12Building and Construction Industry Long Service Payments Fund

12 Building and Construction Industry Long Service Payments Fund

12 Building and Construction Industry Long Service Payments Fund

(1) The Corporation is to maintain, administer and control a fund called the Building and Construction Industry Long Service Payments Fund.

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

(a) the long service levies paid under the Building and Construction Industry Long Service Payments Act 1986, and

(b) any money borrowed by the Corporation for the purposes of the Building and Construction Industry Long Service Payments Act 1986, and

(c) the proceeds of any investment of the Fund, and

(d) any other amounts received by the Corporation in the course of its administration of the Building and Construction Industry Long Service Payments Act 1986.

(3) There is to be paid from the Fund—

(a) the long service payments provided for by the Building and Construction Industry Long Service Payments Act 1986, and

(b) the expenses incurred in the administration of this Act and the Building and Construction Industry Long Service Payments Act 1986 and the management of the Fund, and

(c) any other payments authorised by the Building and Construction Industry Long Service Payments Act 1986 to be made from the Fund.