22Money of Institute

22 Money of Institute

(1) The money of the Institute consists of: (a) money paid to the Institute under an appropriation; and (b) any other money, other than trust money, paid to the Institute. (2) The money of the Institute shall be applied only: (a) in payment or discharge of the expenses, charges, obligations and liabilities incurred or undertaken by the Institute in the performance of its functions and the exercise of its powers; (b) in payment of remuneration and allowances payable under this Act; and (c) in making any other payments required or permitted to be made by the Institute. (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 Institute.