15Education Standards Authority Fund

#### 15 Education Standards Authority Fund 15 Education Standards Authority Fund > > (1) There is to be established in the Special Deposits Account the Education Standards Authority Fund (the Fund) into which is to be paid— > > > > > (a) the fees and charges payable to the Authority under the [Teacher Accreditation Act 2004](/view/html/inforce/current/act-2004-065), and > > > > > (b) any money appropriated by Parliament for the purposes of the Authority, and > > > > > (c) the proceeds of any property acquired by the Authority under section 19, and > > > > > (d) any other money required by or under this or any other Act to be paid into the Fund. > > > (2) There is to be paid from the Fund— > > > > > (a) all amounts required to meet expenditure incurred by the Authority in exercising its functions and in the administration of the education and teaching legislation, and > > > > > (b) any allowances paid to members of the Quality Teaching Committee established under the [Teacher Accreditation Act 2004](/view/html/inforce/current/act-2004-065), and > > > > > (c) any amount authorised by the Minister to be paid from the Fund, and > > > > > (d) all other payments required by or under this or any other Act to be paid from the Fund. > > > (3) Despite subsection (2), money held in the Fund that consists of the fees and charges paid to the Authority under the [Teacher Accreditation Act 2004](/view/html/inforce/current/act-2004-065) is to be applied only for the purposes of meeting costs incurred by the Authority in connection with the accreditation of teachers under that Act and in monitoring, maintaining and developing teacher quality. > > > (4) The Authority may invest money in the Fund— > > > > > (a) if the Authority is a GSF agency for the purposes of Part 6 of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055)—in any way that the Authority is permitted to invest money under that Part, or > > > > > (b) if the Authority is not a GSF agency for the purposes of Part 6 of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055)—in accordance with and subject to the [Trustee Act 1925](/view/html/inforce/current/act-1925-014) and in any other way approved by the Minister with the concurrence of the Treasurer. > > **s 15:** Am 2016 No 50, Sch 1 \[10\] \[11\]; 2018 No 70, Sch 3.16.