42Funds of Corporation

42 Funds of Corporation

(1)  The funds of the Corporation consist of –

(a) the moneys provided by the Commonwealth to the State pursuant to the Intergovernmental Agreement; and

(b) any moneys –

(i) provided by the State; and

(ii) received by the Corporation in the course of performing its functions and exercising its powers; and

(iii) received by the Corporation from any other source.

(2)  The funds of the Corporation are to be applied –

(a) in payment of the remuneration of the directors, the chief executive officer and the employees; and

(b) in payment or discharge of the expenses, charges and obligations incurred or undertaken by the Corporation in the performance and exercise of its functions and powers.