s 142
In forceConstitution and administration of prescribed accounts
Part 6Financial provisions
Division 2Industry funding schemes
142 Constitution and administration of prescribed accounts
(1)
A prescribed account consists of —
(a)
contributions paid or collected in accordance with the regulations for the purposes of the prescribed account; and
(b)
the proceeds of the sale of any capital assets purchased using money from the prescribed account; and
(c)
income of the prescribed account from investment; and
(d)
any other money lawfully paid into the prescribed account.
(2)
A prescribed account must be —
(a)
identified as an account for the purpose for which it is established; and
(b)
established —
(i)
as an operating account; or
(ii)
as part of an operating account nominated by the Director General.
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