49CID entity ceases operating

49 CID entity ceases operating

49 CID entity ceases operating

(1) If a CID entity ceases operating before all funds collected for the approved CID proposal have been expended, the Authority must—

(a) determine whether all expenses incurred in connection with the approved CID proposal have been paid, and

(b) pay from the CID Levies Fund, in accordance with the directions of the Minister, expenses incurred in connection with the approved CID proposal that have not been paid.

(2) If unspent levies remain in the CID Levies Fund after a CID entity ceases operating and all expenses incurred in connection with the approved CID proposal are paid, the Authority must return the unspent amount to the landowners who were subject to the CID levy, in proportion to the amount of levy paid by each landowner.

s 49: Ins 2025 (622), Sch 1[2].