16Funds of Director

16 Funds of Director

[Section 16 Substituted by No. 101 of 1999, s. 6, Applied:01 Mar 2000]

(1)  The funds of the Director consist of –

(a) any money appropriated by Parliament for the purpose of this Act; and

(b) [Section 16 Subsection (1) amended by No. 46 of 2019, s. 4, Applied:12 Dec 2019] any fees and royalties payable under this Act; and

(c) any money received from the sale of anything forfeited to and sold by the Director; and

(d) any other money received by the Director from any other source.

(2)  One-half of any money received by way of penalties under this Act is payable to the Director.

(3)  The Director must apply the funds for the following purposes:

(a) the payment of expenses, charges and obligations incurred in the administration of this Act;

(b) the provision of financial or other assistance for the purpose of this Act;

(c) [Section 16 Subsection (3) amended by No. 103 of 2000, Sched. 1, Applied:13 Dec 2000] the payment of remuneration payable to persons employed under section 19 .

(4)  The Director may invest any of its funds –

(a) in accordance with section 6 of the Trustee Act 1898 ; or

(b) in any other manner the Treasurer approves.