157Annual contributions to be held in trust accounts

#### 157 Annual contributions to be held in trust accounts 157 Annual contributions to be held in trust accounts > > (1) The Minister is to establish and operate trust accounts for annual contributions made by permit holders (except those referred to in section 156(1)(a)). > > > (2) The Minister may establish separate trust accounts for the different purposes for which the contributions are made. > > > (3) Money in a trust account is, subject to the regulations, to be used only for the purpose for which the relevant contributions were made. > > > (4) The Minister is to appoint a committee of persons to advise the Minister on the amount of contributions payable into any trust account and the expenditure of money in the trust account. > > > (5) The Minister must not approve of any expenditure from a trust account without the concurrence of the committee appointed in respect of the account. > > > (6) A single committee may be appointed in respect of 2 or more trust accounts. > > > (7) The Minister is to ensure that a majority of the members of each committee are representatives of the aquaculture industry. > > > (8) A committee is not subject to the control and direction of the Minister. However, the Minister may require a committee to reconsider any decision made by it. > > > (9) The Minister may remove any member or all members of a committee from office. > > > (10) The regulations may make provision for or with respect to— > > > > > (a) the establishment and operation of trust accounts under this section, and > > > > > (b) the establishment, membership and procedure of committees under this section.