5Acts providing for borrowing etc of money

5 Acts providing for borrowing etc of money

5 Acts providing for borrowing etc of money

(1) In this section:

Applied in relation to money includes borrowed, expended, paid, accepted, deducted, contributed and any other manner of dealing with money and application has a corresponding meaning.

(2) This section shall apply to references in laws of the State to amounts of money that were, before the appointed day, authorised or required by those laws to be applied:

(a) for a specified purpose,

(b) in a specified manner,

(c) in specified circumstances, or

(d) during a period, whether defined or not, that commenced before and concludes on or after the appointed day.

(3) Where, before the appointed day the whole or part of the amount of money authorised or required to be applied as referred to in subsection (2) has not been applied, the amount of money that on and after the appointed day may be so applied shall be the equivalent in decimal currency of the amount of money that, immediately before the appointed day, has not been so applied.