449Sustainability Fund Account

449 Sustainability Fund Account S. 449(1) amended by No. 41/2025 s. 4(Sch. 2 item 12.3). (1) The Department of Energy, Environment and Climate Action must establish and maintain an account to be known as the Sustainability Fund Account. S. 449(2) amended by No. 41/2025 s. 4(Sch. 2 item 12.3). (2) The Department of Energy, Environment and Climate Action must credit to the Sustainability Fund Account any amount standing to the credit of the Municipal and Industrial Waste Levy Trust Account at the end of each quarter. (3) Subject to subsection (4), money paid out of the Sustainability Fund Account must be applied, with the consent of the Premier and the Minister, for the following purposes— (a) to foster environmentally sustainable uses of resources and best practices in waste management to advance the social and economic development of Victoria; (b) either— (i) to foster community action or innovation in relation to the reduction of greenhouse gas substance emissions; or (ii) to adapt or adjust to climate change in Victoria. (4) The Premier and the Minister must not consent to the application of money paid out of the Sustainability Fund Account for the purposes referred to in subsection (3) unless— (a) a priority statement has been produced and published in accordance with section 450 that sets out, in order of priority, the matters in respect of which the Premier and Minister intend to pay out money from the Sustainability Fund Account in the relevant period; and (b) guidelines are in force that detail how the Premier and the Minister will exercise their powers under subsection (3) and those guidelines have been published in accordance with section 451(2). S. 450 inserted by No. 39/2018 s. 18 (as amended by Nos 27/2019 ss 32−40, 3/2020 ss 45, 46, 47/2020 s. 27).