Div 3Funds

Division 3—Funds Subdivision 1—Biodiversity Restoration Fund 36—Biodiversity Restoration Fund (1) There will be a fund kept in a separate account at the Treasury to be called the Biodiversity Restoration Fund. (2) The Biodiversity Restoration Fund is subject to the management of the Council. (3) The Biodiversity Restoration Fund consists of— (a) money (other than the money referred to in section 39(3)(a)) that was, immediately before the commencement of this section, held in the Native Vegetation Fund under the Native Vegetation Act 1991; and (c) grants, donations, gifts or bequests made to the Minister or the Council for purposes related to the Fund; and (d) income from investment of the Fund; and (e) expiation fees and penalties recovered in respect of offences under this Act or the regulations relating to native plants (other than prescribed offences); and (f) payments by order of a court under this Act relating to the clearance of native plants or an administrative order in relation to such clearance; and (g) where an order is made by a court in relation to a contravention of a requirement to comply with the general duty under section 11—any payment specified in the order to be made to the Fund; and (h) payments made in lieu of a requirement to achieve a significant environmental benefit; and (i) money required or authorised by or under this or any other Act to be paid to the Fund; and (j) money the Minister determines should be held and applied by the Fund; and (k) money paid into the Fund from the Biodiversity Administration Fund. (4) Subject to subsection (5), the Council may apply any part of the Biodiversity Restoration Fund— (a) towards ecological restoration, including, but not limited to, re‑establishing, enhancing, preserving, managing and researching native plants; or (b) in accordance with section 99; or (c) towards any other purpose for which the Fund may be applied under this Act. (5) The part of the Biodiversity Restoration Fund that constitutes payments made in lieu of a requirement to achieve a significant environmental benefit must be applied in accordance with the SEB policy. 37—Accounts and audit (1) The Council must keep proper accounts of receipts and payments in relation to the Biodiversity Restoration Fund. (2) The Auditor‑General may at any time, and must at least once in each year, audit the accounts of the Biodiversity Restoration Fund. Subdivision 2—Biodiversity Conservation Fund 38—Biodiversity Conservation Fund (1) There will be a fund kept in a separate account at the Treasury to be called the Biodiversity Conservation Fund. (2) The Biodiversity Conservation Fund is subject to the management and control of the Minister. (3) The Biodiversity Conservation Fund will consist of— (a) all moneys that were, immediately before the commencement of this section, held in the Wildlife Conservation Fund under the National Parks and Wildlife Act 1972; and (c) grants, donations, gifts or bequests made to the Minister or the Council for purposes related to the Fund; and (d) income from investment of the Fund; and (e) expiation fees and penalties recovered in respect of offences under this Act or the regulations relating to protected animals, protected animal products, eggs of a protected animal (whether protected eggs or otherwise) or protected habitat; and (f) expiation fees and penalties recovered in respect of offences under this Act or the regulations relating to hunting; and (g) expiation fees and penalties recovered in respect of offences under Part 6; and (h) expiation fees and penalties recovered in respect of offences under Part 9; and (i) royalty paid under this Act; and (j) money arising from any sale that the Minister is authorised to make under this Act (including from the sale of any item surrendered to the Minister or seized or disposed of in accordance with this Act); and (k) payments by order of the ERD Court in relation to protected animals, protected animal products, eggs of a protected animal (whether protected eggs or otherwise) or protected habitat, or an administrative order made under this Act in relation to protected animals, protected animal products, eggs of a protected animal (whether protected eggs or otherwise) or protected habitat; and (l) where an order is made by the ERD Court in relation to a contravention of a requirement to comply with the general duty under section 11—any payment specified in the order to be made to the Fund; and (m) money required or authorised by or under this or any other Act to be paid to the Fund; and (n) money the Minister determines should be held and applied by the Fund; and (o) money paid into the Fund from the Biodiversity Administration Fund. (4) Subject to this Act, the Minister may apply any portion of the Biodiversity Conservation Fund towards— (a) plant and animal conservation programs; and (b) the promotion of research into— (i) problems relating to the conservation of plants and animals; or (ii) the impact of the issue of any permits under this Act; or (iii) any other matter connected to this Act; and (c) programs for the benefit of any industry requiring a permit under this Act; and (d) any other purpose for which the Fund may be applied under this Act. Subdivision 3—Biodiversity Administration Fund 39—Biodiversity Administration Fund (1) There will be a fund kept in a separate account at the Treasury to be called the Biodiversity Administration Fund. (2) The Biodiversity Administration Fund is subject to the management and control of the Minister. (3) The Biodiversity Administration Fund consists of— (a) a prescribed amount of money that was, immediately before the commencement of this section, held in the Native Vegetation Fund under the Native Vegetation Act 1991; and (c) income from investment of the Fund; and (d) expiation fees and penalties recovered in respect of offences that are not referred to in section 36(3) or section 38(3); and (e) subject to subsection (4)—fees (other than expiation fees) paid under this Act; and (f) all other money that is required or authorised by or under this Act or any other law to be paid into the Fund; and (g) money the Minister determines should be held and applied by the Fund. (4) If an application to clear native plants is made to a local council or other body corporate or other person acting under delegation from the CAC, the prescribed fee paid by the applicant under this Act may be retained by the local council or other body or person. (5) The Minister may apply any part of the Biodiversity Administration Fund— (a) in paying any amount into the Biodiversity Restoration Fund or the Biodiversity Conservation Fund that the Minister determines should be held and applied for the purposes of that fund rather than under this section (and any such determination will have effect according to its terms); or (b) for any other purpose to further the objects of this Act or to support the operation or administration of this Act; or (c) in making any other payment required or authorised by or under this Act. Subdivision 4—General 40—Ability to establish other funds The regulations may establish a fund for the purposes of this Act and make any provisions necessary or desirable in relation to such a fund. 41—Investment Any money in a fund maintained under this Division that is not for the time being required for the purposes for which that fund may be applied under this Division may be invested in a manner determined by the Minister.