Australian Institute of Aboriginal and Torres Strait Islander Studies Act 1989
38Application of money held by Institute
Start here
Get a plain-English read of 38
Turn the raw legal text into a practical explanation grounded in Australian Institute of Aboriginal and Torres Strait Islander Studies Act 1989.
38 Application of money held by Institute
(1) Money held by the Institute shall be applied only: (a) in payment or discharge of the costs, expenses and other obligations incurred by the Institute in the performance of its functions and the exercise of its powers; (b) in payment of any remuneration and allowances payable to any person under this Act or any other Act; and (c) in making any other payments which the Institute is authorised or required to make under this Act. (2) 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 Institute.