32Coal Mine Subsidence Compensation Fund

#### 32 Coal Mine Subsidence Compensation Fund 32 Coal Mine Subsidence Compensation Fund > > (1) There is to be established by this Act in the Special Deposits Account a fund called the Coal Mine Subsidence Compensation Fund. > > > (2) The following amounts are to be paid into the Fund, subject to any requirements specified in the regulations— > > > > > (a) the rate, levies and contributions payable by the proprietors of coal mines under this Act, > > > > > (b) the proceeds of investment of money in the Fund, > > > > > (c) any other money appropriated by Parliament for the purposes of the Fund or required by this or any other Act or law to be paid into the Fund. > > > (3) The following amounts may be paid out of the Fund, subject to any requirements specified in the regulations— > > > > > (a) all amounts payable under this Act for subsidence damage or otherwise payable under this Act, > > > > > (b) money expended by the Chief Executive in the exercise of the Chief Executive’s functions under Part 4, > > > > > (c) the expenses involved in the administration of this Act, > > > > > (d) such other amounts as are authorised to be paid out of the Fund by this or any other Act or law. > > > (4) The Chief Executive is to manage and control the Fund in accordance with this Act and the regulations. > > > (5) The Chief Executive— > > > > > (a) is to act as trustee of money in the Fund, and > > > > > (b) is to invest the money in the Fund not immediately required for the purposes for which it is to be applied in the same way as trustees may invest trust funds, and > > > > > (c) subject to any requirements specified in the regulations, is to make payments from the Fund as authorised by this Act and the regulations, and > > > > > (d) may do all things necessary or convenient to be done in connection with the exercise of functions under this section. > > > (6) The regulations may make further provision with respect to the Fund and its management and control. > > **s 32:** Am 2024 No 48, Sch 1\[46\].