CTHRepealedAct
Australian Securities and Investments Commission Act 1989
161How Advisory Committee’s money to be applied
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#### 161 How Advisory Committee’s money to be applied
(1) The Advisory Committee’s money may be applied only:
(a) in paying or discharging expenses, charges, obligations, or liabilities, that the Advisory Committee incurs or undertakes in connection with performing or exercising any of its functions and powers; or
(b) in paying remuneration or allowances payable under this Act to members of the Advisory Committee.
(2) Nothing in subsection (1) limits the generality of anything else in that subsection.
(3) Subsection (1) does not prevent investment of surplus money of the Advisory Committee under section 18 of the Commonwealth Authorities and Companies Act 1997.
(4) This section has effect subject to a provision that a law of the Commonwealth makes about money or property that vests in the Advisory Committee under such a law.
(5) The Minister may by writing require the Advisory Committee to pay to the Commonwealth so much of the Advisory Committee’s money as:
(a) is not immediately required for the purposes of the Advisory Committee; and
(b) does not exceed a specified amount.
(6) The Advisory Committee shall comply with a requirement under subsection (5) and shall realise so much of the property in which money has been invested under subsection 18(3) of the Commonwealth Authorities and Companies Act 1997 as is necessary in order to so comply.
(7) Money paid by the Advisory Committee to the Commonwealth under subsection (5) shall form part of the Consolidated Revenue Fund.