Tourism and Events Nt Act 2012

Tourism and Events NT may maintain in the operating account a fund to be known as the Reserve Fund.

Any money received by Tourism and Events NT from the sale or distribution of tickets for events or exhibitions must be paid into the Reserve Fund.

Tourism and Events NT may arrange a refund of money mentioned in subsection (2) paid to Tourism and Events NT in error or in the circumstances in which, in the opinion of the chief executive officer, a refund is necessary.

Money in the Reserve Fund must only be applied for the following purposes:

paying for costs and expenses incurred, or to be incurred, in relation to the coordination and delivery of events and exhibitions;

payment of a refund under subsection (3);

performance of the functions under section 7;

exercise of the powers under section 8.

If, at the end of a financial year, there is surplus money remaining in the Reserve Fund, that money must be:

retained in the Reserve Fund; and

applied to the following financial year for the purposes mentioned in subsection (4).