39Application of moneys

#### 39 Application of moneys (1) The moneys of the School shall be applied only: (a) in payment or discharge of the costs and expenses of the School under this Act; and (b) in payment of any remuneration (including fees) and allowances payable under this Act. (1A) Subsection (1) 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 School. (2) Notwithstanding anything contained in this Act, where a gift or bequest made to the School is subject to conditions in relation to the purposes for which it is to be applied, the moneys paid to the School as a result of the gift or bequest, and any income derived from the investment of those moneys, may be applied for those purposes and subject to those conditions but not otherwise.