15Transfer of Audit Act Accounts

15 Transfer of Audit Act Accounts

(1) Where, immediately before Self‑Government Day, an Audit Act Account was in existence, a Trust Account shall, on that Day, be taken to be established under the Territory audit law for the same purposes as those of the Audit Act Account. (2) An amount standing to the credit of an Audit Act Account at the beginning of Self‑Government Day shall be paid into the corresponding Trust Account established by subsection (1). (3) For the purposes of subsection (2), money standing to the credit of the Trust Fund under a head of account that constitutes an Audit Act Account as defined by this Act shall be taken to be money standing to the credit of the Account. (4) Where, at the beginning of Self‑Government Day, an amount is payable, but has not been paid, into an Audit Act Account, the amount is payable into the corresponding Trust Account established by subsection (1).