62General Fund

62 General Fund

S. 62(1) amended by No. 10/2017 s. 23(2).

(1) Development Victoria must establish and keep a fund called the General Fund.

(2) There shall be paid into the General Fund—

S. 62(2)(a) amended by No. 10/2017 s. 25(2).

(a) all money received by Development Victoria, or on its behalf, in respect of, or in connection with, the carrying out of its functions or powers under this Act, except any function or power relating to a declared project;

(b) all income from the investment of money in the General Fund and the proceeds of sale of any such investment;

S. 62(2)(c) amended by No. 10/2017 s. 25(2).

(c) all other money that Development Victoria receives for payment into the General Fund.

S. 62(3) amended by No. 10/2017 s. 23(2).

(3) Development Victoria may pay money out of the General Fund—

S. 62(3)(a) amended by No. 10/2017 s. 25(2).

(a) to pay any amounts payable by Development Victoria in respect of its functions or powers under this Act, except any function or power relating to a declared project;

S. 62(3)(b) amended by No. 10/2017 s. 25(2).

(b) to pay any costs and expenses incurred by Development Victoria in relation to its functions or powers under this Act, except any function or power relating to a declared project;

S. 62(3)(c) amended by No. 10/2017 s. 25(2).

(c) to repay any money borrowed by Development Victoria under this Act for any purpose (other than a declared project) or any other liability of Development Victoria together with any charges or interest on that money;

(d) for any other purpose authorised by this Act.