Budget
33 Budget
The Foundation must, before 1 June in each year, submit to the Minister for the Minister's approval a budget for the next financial year of money to be paid into the Fund and money to be paid out of the Fund.
The budget must be in a form required by the Minister.
S. 33(2A) inserted by No. 94/1997 s. 21(3).
The amounts included in the budget for a financial year to be paid out of the Fund to sporting bodies and to bodies for the purpose of health promotion must each be not less than 30% of the total money budgeted to be paid into the Fund out of the Consolidated Fund in that year.
The Minister may, after consultation with the Treasurer and the Minister administering the Sport and Recreation Act 1972, approve a budget as submitted to the Minister, or approve it with such alterations as the Minister determines.
The Minister may, if requested to do so by the Foundation, at any time, approve alterations to the budget.
Ss 34–36 repealed by No. 31/1994 s. 4(Sch. 2 item 90).
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Pt 3AA (Headings and ss 34–34ZZC) inserted by No. 51/2024 s. 8.
This Act’s bill:Second reading speech
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