sec.193Transferring money to or from a trust fund

sec.193 Transferring money to or from a trust fund

The council may transfer trust money from a trust fund only in compliance with this section. The council may transfer trust money from a trust fund— to, or for, the person who is entitled to the money, according to law; or as required by the relevant Act under which the money was paid into the trust fund. If the purpose for which an amount of trust money was credited to the trust fund no longer exists, the council may, if it has resolved the purpose no longer exists, transfer the amount from the trust fund. If an amount of trust money is mistakenly not credited to the trust fund, the council must transfer the amount to the trust fund as soon as practicable, but no longer than 5 working days, after the council becomes aware the amount has been incorrectly credited. If an amount that is not trust money is mistakenly credited to the trust fund, the council must transfer the amount from the fund as soon as practicable, but no longer than 5 working days, after the council becomes aware the amount has been incorrectly credited. Money that is trust money under section 192 (3) (d) may be transferred from the trust fund at any time. (sec.193-ssec.1) The council may transfer trust money from a trust fund only in compliance with this section. (sec.193-ssec.2) The council may transfer trust money from a trust fund— to, or for, the person who is entitled to the money, according to law; or as required by the relevant Act under which the money was paid into the trust fund. (sec.193-ssec.3) If the purpose for which an amount of trust money was credited to the trust fund no longer exists, the council may, if it has resolved the purpose no longer exists, transfer the amount from the trust fund. (sec.193-ssec.4) If an amount of trust money is mistakenly not credited to the trust fund, the council must transfer the amount to the trust fund as soon as practicable, but no longer than 5 working days, after the council becomes aware the amount has been incorrectly credited. (sec.193-ssec.5) If an amount that is not trust money is mistakenly credited to the trust fund, the council must transfer the amount from the fund as soon as practicable, but no longer than 5 working days, after the council becomes aware the amount has been incorrectly credited. (sec.193-ssec.6) Money that is trust money under section 192 (3) (d) may be transferred from the trust fund at any time.

• (a) to, or for, the person who is entitled to the money, according to law; or
• (b) as required by the relevant Act under which the money was paid into the trust fund.