Water Industry Act 1994

There shall be established in the Trust Fund an account to be known as the "Parks and Reserves Trust Account".

There shall be paid into the Parks and Reserves Trust Account—

all amounts in payment of rates and interest received by, or collected on behalf of, the Minister under Division 5 of Part 4; and

any income from the investment of money standing to the credit of the Trust Account and the proceeds of sale of any investment; and

any other money approved by the Treasurer.

There shall be paid out of the Parks and Reserves Trust Account—

such amounts as the Secretary, with the approval of the Minister, determines for the purposes of the management and control, within the metropolitan area, of open space, parks and waterways for the purposes of conservation, recreation, leisure, tourism and navigation;

such amounts as the Secretary, with the approval of the Minister, determines as financial assistance by way of grants, loans or otherwise to persons or bodies engaged in activities within the metropolitan area of the kind referred to in paragraph (a);

such amounts as the Secretary, with the approval of the Minister, determines are necessary for the purpose of the acquisition of land by the Crown in the metropolitan area, for the purposes of conservation, recreation, leisure or tourism or for any of the purposes specified in paragraphs (l), (m), (n), (o) and (w) of section 4(1) of the Crown Land (Reserves) Act 1978;

costs and expenses incurred by the Minister in connection with the making, levying, collection and recovery of rates under Division 5 of Part 4;

any other amounts authorised under this or any other Act to be paid out of the Trust Account.

Money standing to the credit of the Parks and Reserves Trust Account may be invested in any manner in which trust funds may be invested under the Trustee Act 1958.

In this section—