Highways Fund
31 Highways Fund
The
Highways
Fund continues in existence.
The
Fund consists of—
money paid into the Fund as required or authorised by this Act or any other Act; and
loans raised and appropriated for purposes of the Fund; and
any money (including interest) paid into the Fund to defray the cost of operations referred to in section 32(1)(g);
and
any money (including interest) repaid by a council under section 32(1)(h);
and
any other money received in repayment of money disbursed from the Fund or otherwise received under this Act; and
any amounts paid by way of fees or charges for the use of any ferry or sea transport service operated under this Act.
The
Treasurer must, at least once every three months, pay into the Fund the sum of all money collected or received in respect of licence fees and registration fees under the Motor
Vehicles Act 1959 after deducting from that sum such amount as is necessary to pay, during the financial year in which that money is collected or received—
any interest on the debit balance for the time being outstanding in accounts of the Treasurer in respect of loans raised for roads and bridges; and
any expenses incurred in connection with statutory or administrative powers, duties or functions exercised or performed by or under the direction of the Registrar of Motor Vehicles; and
the regulatory component of registration fees collected or received in respect of heavy vehicles (which must, under section 28 of that
Act, be paid into the National Heavy Vehicle Regulator Fund).
The
Treasurer may in any financial year advance out of the Consolidated
Account and pay into the Fund any sum not exceeding the amount that the Treasurer anticipates will, in that financial year, be received or collected and be payable to the Fund under subsection (3).
If an amount is paid into the Fund under subsection (4), that amount must be deducted from the amount to be paid into the
Fund under subsection (3) during the relevant financial year.
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