Victorian Arts Centre Fund
16 Victorian Arts Centre Fund
S. 16(1) substituted by No. 47/1987 s. 3(a), amended by No. 29/1994 s. 25.
The Trust must establish and keep a fund to be known as the Victorian Arts Centre Fund.
S. 16(2) amended by No. 47/1987 s. 3(b).
All moneys received by the Trust shall be paid into the Fund.
S. 16(2A) inserted by No. 47/1987 s. 3(c), amended by No. 11/2001 s. 3(Sch. item 87.2).
The Trust must cause the money in the Fund to be paid into an account or accounts in any authorised deposit-taking institution or institutions within the meaning of the Banking Act 1959 of the Commonwealth approved for the purpose by the Treasurer.
S. 16(3) amended by Nos 47/1987 s. 3(d), 104/1995 s. 6(Sch. 1 item 28(a)(b)).
All moneys standing to the credit of the Trust in the Fund which are not for the time being required for the purposes of this Act may be invested in such manner as the Treasurer approves.
S. 16(4) amended by No. 47/1987 s. 3(e).
All income from the investments of the Trust shall be paid into the Fund.
S. 16(5) amended by No. 47/1987 s. 3(e).
Moneys standing to the credit of the Trust in the Fund shall be applied by the Trust for or towards the costs and expenses of or incidental to the performance of its functions and the exercise of its powers under this Act.
This Act’s bill:Second reading speech
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