Account
28 Account
S. 28(1) amended by Nos 61/1996 s. 61(a), 46/1998 s. 7(Sch. 1), 11/2001 s. 3(Sch. item 54.1(a) (b)).
The Board shall establish and maintain in an authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth approved by the Minister administering Part 7 of the Financial Management Act 1994 an account in the name of the Board into which shall be paid all money received by or paid to the Board other than any money to which subsection (4) applies.
S. 28(2) amended by Nos 61/1996 s. 61(a), 11/2001 s. 3(Sch. item 54.2).
Subject to subsection (3), money standing to the credit of the Board in the account referred to in subsection (1) may be applied by the Board only for or towards the costs and expenses of or incidental to the performance of the functions or the exercise of the powers of the Board pursuant to this Act.
S. 28(3) amended by Nos 104/1995 s. 6(Sch. 1 item 21(a)(b)), 61/1996 s. 61(a), repealed by No. 61/1996 s. 61(b).
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S. 28(4) amended by No. 61/1996 s. 61(a).
This section shall not apply to any moneys received or paid out by the Board subject to and in accordance with the terms of a special trust.
S. 29 substituted by No. 61/1996 s. 62.
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