Greater Sydney Parklands Trust Act 2022
46Other matters relating to Trust’s financial powers
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46 Other matters relating to Trust’s financial powers
46 Other matters relating to Trust’s financial powers
(1) The Trust may invest money in the Fund—
(a) if the Trust is a GSF agency for the Government Sector Finance Act 2018, Part 6—in a way the Trust is permitted to invest money under that Part, or
(b) if the Trust is not a GSF agency for the Government Sector Finance Act 2018, Part 6—in a way approved by the Minister with the agreement of the Treasurer.
(2) Subject to subsection (4), the Trust may, in its discretion, allocate money in the Fund to expenditure for—
(a) the associated Trusts estate, and
(b) the GSPT estate.
(3) Subject to subsection (6), the Trust must ensure that, in allocating money from a separate account in the Fund, priority is given to—
(a) for a separate account established for an associated Trust or park—the associated Trust or park for which the separate account was established, or
(b) for the separate account established for the Entertainment Quarter—the Trust lands, within the meaning of the Centennial Park and Moore Park Trust Act 1983.
(4) The Trust must ensure that, in allocating money from a separate account in the Fund—
(a) priority is given to the associated Trust or park for which the separate account was established, and
(b) if the Trust proposes to allocate money from the separate account to an associated Trust or park other than the associated Trust or park for which the separate account was established—
(i) a community trustee board established for the part of the parklands estate administered by the associated Trust or park has been given written notice of the proposal to allocate money in that way, and
(ii) the community trustee board has not, within 14 days after receiving the notice, objected to the allocation of the money in that way.
(5) To avoid doubt, if a community trustee board objects under subsection (4)(b) to the allocation of money in a way, the Trust must not under subsection (4) allocate the money in that way.