54The Fund

54 The Fund

54 The Fund

(1) All moneys received by the Authority under this Act shall be deposited in the State Planning Authority Account in the Special Deposits Account in the Treasury referred to in subsection (1) of section 30 of the State Planning Authority Act 1963, and all amounts required to meet expenditure incurred in accordance with the provisions of this Act shall be paid from that account.

(2) For the purposes of this Act, the Authority shall establish in its books of account a fund to be known as the Land Development Contribution Fund.

(3) The Fund shall consist of:

(a) all moneys received or receivable by the Authority under this Act,

(b) moneys provided by Parliament for the purposes of this Act and moneys advanced for the purposes of this Act out of moneys provided by Parliament for the purpose of making advances,

(c) the proceeds of the disposition of any property acquired by the Authority out of moneys applied from the Fund, and

(d) all assets acquired out of money applied from the Fund.

(4) The Fund may be applied to any of the following purposes:

(a) meeting the administrative expenses of the Authority and the valuer-general under this Act,

(b) making such payments to such persons as the Treasurer determines, after considering a recommendation by the Authority, for the purposes of, or in connection with, the provision of:

(i) water, sewerage and drainage services,

(ii) roads and bridges,

(iii) rail services and other transport facilities, or

(iv) other public services approved by the Treasurer,

in relation to the non-urban Sydney region,

(c) the acquisition of land for any purpose referred to in paragraph (b) or the acquisition of land within the non-urban Sydney region for any other public purpose approved by the Treasurer where the Treasurer considers that the land should be made available in the public interest for that purpose,

(d) repaying advances paid into the Fund as referred to in paragraph (b) of subsection (3),