71Cattle Compensation Fund

71 Cattle Compensation Fund

(1) There is continued in the Public Account, as part of the Trust Fund, the account known as the Cattle Compensation Fund.

(2) There is to be paid into the Fund—

S. 71(2)(a) amended by No. 84/2008 s. 24.

(a) all money received by or for the Commissioner of State Revenue as duty on statements and approved agents' returns relating to the sale of cattle or calves or the carcases of cattle under the Duties Act 2000;

S. 71(2)(ab) inserted by No. 69/2011 s. 42.

(ab) all money received by or for the Commissioner of State Revenue as interest or penalty tax in respect of the whole or part of duty on statements and approved agents' returns relating to the sale of cattle or calves or the carcases of cattle under the Duties Act 2000;

(b) the amounts of residual value of cattle received under section 78 in respect of which compensation is paid;

(c) any money paid by the Commonwealth for or in respect of compensation for cattle suffering from disease;

(d) all penalties recovered under section 91 relating to offences with respect to cattle;

(e) all interest earned on money in the Fund.

S. 71(3) amended by No. 104/1995 s. 6(Sch. 1 item 15(c)).

(3) Money in the Fund may be invested in any manner in which money may be invested under the Trustee Act 1958 or any other manner that the appropriate Minister approves.