15Payments out of the Fund

15 Payments out of the Fund

(1) There must be paid out of the Victorian Transport Fund—

(a) amounts authorised by the Treasurer to fund the cost of all or any part of the development of—

(i) the Level Crossing Removal Program; and

(ii) infrastructure projects for or in relation to public transport, roads, rail, the movement of freight, ports or other infrastructure (including regional infrastructure); and

(iii) rail infrastructure projects for improving rail access, including any rail infrastructure project for improving access identified as an option in a Rail Access Strategy prepared under Part 6C of the Port Management Act 1995; and

(b) all money directed or authorised to be paid out of the Fund by or under this or any other Act.

Note

For example, see section 12(6)(b).

(2) The amounts authorised by the Treasurer to be paid out of the Victorian Transport Fund to fund the cost of all or any part of the development of regional infrastructure projects must equate to, in aggregate, at least 10% of the net transaction proceeds.

(3) In addition, the amounts authorised by the Treasurer to be paid out of the Victorian Transport Fund under subsection (1)(a) must, in any relevant period, include amounts to fund the cost of all or any part of the development of regional infrastructure projects that equate to, in aggregate, at least 10% of the amounts so authorised.

(4) However, subsection (3) ceases to apply when amounts authorised by the Treasurer to be paid out of the Victorian Transport Fund to fund the cost of all or any part of the development of regional infrastructure projects equate to, in aggregate, 10% of the net transaction proceeds.

(5) There must be paid out of the Victorian Transport Fund amounts authorised by the Treasurer for the payment of costs and expenses incurred in—

(a) administering this Division; and

(b) monitoring and reporting on the financial operations and financial position of the Fund.

(6) In this section—

development includes plan, implement and deliver;

net transaction proceeds means the transaction proceeds paid into the Victorian Transport Fund under section 12(3) less any deductions made from the transaction proceeds under section 12(4);

regional, in relation to infrastructure, means a geographic area of Victoria that is within a municipal district of a Council or an alpine resort within the meaning of the that is defined as under the ;