112B
CurrentApplication of money by the Performance Authority
Part 3.11AFinance
112B Application of money by the Performance Authority
(1)
The money of the Performance Authority is to be applied only:
(a)
in payment or discharge of the costs, expenses and other obligations incurred by the Performance Authority in the performance of its functions and the exercise of its powers; and
(b)
in payment of any remuneration or allowances payable under this Act.
(2)
Subsection (1) does not prevent investment, under section 59 of the Public Governance, Performance and Accountability Act 2013, of money that is not immediately required for the purposes of the Performance Authority.
This Act’s bill:Explanatory memorandumSecond reading speech
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