Economic Development Act 2012
sec.26Payments of amounts into the Fund
Start here
Get a plain-English read of sec.26
Turn the raw legal text into a practical explanation grounded in Economic Development Act 2012.
sec.26 Payments of amounts into the Fund
The following amounts are payable into the Fund— amounts received by MEDQ for a dealing in land or other property under this Act; amounts received by MEDQ for a borrowing under the Statutory Bodies Financial Arrangements Act 1982 , part 5 ; amounts received by MEDQ for an investment under the Statutory Bodies Financial Arrangements Act 1982 , part 6 ; fees received by MEDQ for applications under chapter 3 ; special rates and charges received by MEDQ; infrastructure expenses recoupment charges received by MEDQ; any other amounts received by MEDQ in carrying out its functions or exercising its powers under this Act, including, for example, interest received in relation to— a fund or bank account kept under this Act; or a financial arrangement under section 21 ; any amount appropriated by Parliament for the purposes of the Fund; any amount paid into the Fund at the direction of or with the approval of the Minister and the Treasurer. Subsection (3) applies if— MEDQ delegates a function or power under section 169 ; and for performing the function or exercising the power, the delegate receives an amount that, other than for subsection (3) , would be payable into the Fund under subsection (1) (d) , (e) , (f) or (g) ; and the delegation provides that the delegate may retain all or part of the received amount. Despite subsection (1) , the amount that, under the delegation, may be retained is not payable into the Fund. s 26 amd 2014 No. 40 s 4 (sec.26-ssec.1) The following amounts are payable into the Fund— amounts received by MEDQ for a dealing in land or other property under this Act; amounts received by MEDQ for a borrowing under the Statutory Bodies Financial Arrangements Act 1982 , part 5 ; amounts received by MEDQ for an investment under the Statutory Bodies Financial Arrangements Act 1982 , part 6 ; fees received by MEDQ for applications under chapter 3 ; special rates and charges received by MEDQ; infrastructure expenses recoupment charges received by MEDQ; any other amounts received by MEDQ in carrying out its functions or exercising its powers under this Act, including, for example, interest received in relation to— a fund or bank account kept under this Act; or a financial arrangement under section 21 ; any amount appropriated by Parliament for the purposes of the Fund; any amount paid into the Fund at the direction of or with the approval of the Minister and the Treasurer. (sec.26-ssec.2) Subsection (3) applies if— MEDQ delegates a function or power under section 169 ; and for performing the function or exercising the power, the delegate receives an amount that, other than for subsection (3) , would be payable into the Fund under subsection (1) (d) , (e) , (f) or (g) ; and the delegation provides that the delegate may retain all or part of the received amount. (sec.26-ssec.3) Despite subsection (1) , the amount that, under the delegation, may be retained is not payable into the Fund.