12Application of moneys of the Authority

##### 12 Application of moneys of the Authority (1) Moneys of the Authority shall be applied only: (a) in payment or discharge of the costs, expenses and other obligations incurred by the Authority in the promotion of the objects of the Authority or the exercise of the powers of the Authority; and (b) in payment of any remuneration and allowances payable to any person under the Memorandum of Association or the Articles of Association of the Authority. (2) Moneys of the Authority that are not immediately required to be applied as mentioned in subsection (1) may be invested: (a) on deposit with an approved bank; (b) in securities of the Commonwealth; or (c) in any other manner approved by the Treasurer.