Account
38 Account
ACMI must establish and maintain in an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth approved for the purpose by the Treasurer an account in the name of ACMI into which is paid all money received by or paid to ACMI other than any money to which subsection (3) applies.
Money standing to the credit of ACMI in the account established under this section may be applied by ACMI only for or towards the costs and expenses of or incidental to the performance of the functions or the exercise of the powers of ACMI under this Act.
This section does not apply to any money received or paid out by ACMI subject to and in accordance with the terms of a special trust.
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