sec.12CAAs to establish Capital Assistance Funds

sec.12 CAAs to establish Capital Assistance Funds

Each CAA must establish a fund called the (name of CAA) Capital Assistance Fund. Each CAA must pay into its Capital Assistance Fund— amounts paid to the CAA under section 13 ; and interest mentioned in section 8 that is to be used to provide capital assistance; and amounts of capital assistance returned to the CAA by an approved authority under an agreement mentioned in section 22 ; and interest earned on the amounts in the fund. A CAA must deposit the amounts standing to the credit of its Capital Assistance Fund with— a financial institution; or a person, body or fund approved by the Treasurer. The CAA must keep the deposits separate from its other deposits with the financial institution or the person, body or fund. Amounts received by a CAA that are required to be paid into its Capital Assistance Fund are held by the CAA on behalf of the State. Amounts standing to the credit of a CAA’s Capital Assistance Fund may be used by the CAA only to provide capital assistance. s 12 amd 1997 No. 17 s 74 sch (sec.12-ssec.1) Each CAA must establish a fund called the (name of CAA) Capital Assistance Fund. (sec.12-ssec.2) Each CAA must pay into its Capital Assistance Fund— amounts paid to the CAA under section 13 ; and interest mentioned in section 8 that is to be used to provide capital assistance; and amounts of capital assistance returned to the CAA by an approved authority under an agreement mentioned in section 22 ; and interest earned on the amounts in the fund. (sec.12-ssec.3) A CAA must deposit the amounts standing to the credit of its Capital Assistance Fund with— a financial institution; or a person, body or fund approved by the Treasurer. (sec.12-ssec.4) The CAA must keep the deposits separate from its other deposits with the financial institution or the person, body or fund. (sec.12-ssec.5) Amounts received by a CAA that are required to be paid into its Capital Assistance Fund are held by the CAA on behalf of the State. (sec.12-ssec.6) Amounts standing to the credit of a CAA’s Capital Assistance Fund may be used by the CAA only to provide capital assistance.

• (a) amounts paid to the CAA under section 13 ; and
• (b) interest mentioned in section 8 that is to be used to provide capital assistance; and
• (c) amounts of capital assistance returned to the CAA by an approved authority under an agreement mentioned in section 22 ; and
• (d) interest earned on the amounts in the fund.
• (a) a financial institution; or
• (b) a person, body or fund approved by the Treasurer.