38Application of money by the Australian Curriculum, Assessment and Reporting Authority

#### 38 Application of money by the Australian Curriculum, Assessment and Reporting Authority (1) The money of the Australian Curriculum, Assessment and Reporting Authority consists of: (a) money paid to the Australian Curriculum, Assessment and Reporting Authority under section 37; and (b) any other money paid to the Australian Curriculum, Assessment and Reporting Authority. (2) The money of the Australian Curriculum, Assessment and Reporting Authority is to be applied only: (a) in payment or discharge of the costs, expenses and other obligations incurred or undertaken by the Australian Curriculum, Assessment and Reporting Authority in the performance of its functions and the exercise of its powers; and (b) in payment of any remuneration or allowances payable under this Act. (3) Subsection (2) does not prevent investment, under section 59 of the Public Governance, Performance and Accountability Act 2013, of money that is not immediately required for the purposes of the Australian Curriculum, Assessment and Reporting Authority.