17Melbourne and Olympic Parks Trust Fund

17 Melbourne and Olympic Parks Trust Fund

S. 17(1) amended by No. 56/1997
s. 7(a).

(1) The Trust shall establish and maintain a fund to be called the Melbourne and Olympic Parks Trust Fund.

(2) There shall be paid into the Fund—

S. 17(2)(a) amended by No. 56/1997
s. 7(b).

(a) fees paid to or received by the Trust by or from persons for the right to use or attend the National Tennis Centre, Olympic Park or any other land, facilities or services operated or managed by the Trust;

(b) income received by the Trust from the investment of moneys in the Fund; and

S. 17(2)(c) amended by Nos 34/1995 s. 10(a), 56/1997
s. 7(c).

(c) all other moneys received by or paid to the Trust in respect of the National Tennis Centre, Olympic Park or any other land, facilities or services operated or managed by the Trust.

(3) Moneys in the Fund may be applied only—

S. 17(3)(a) amended by Nos 34/1995 s. 10(b)(i), 56/1997
s. 7(c).

(a) in payment or discharge of the debts and liabilities of the Trust in or in connexion with the performance and exercise of the functions and powers of the Trust with respect to the National Tennis Centre, Olympic Park or any other land, facilities or services operated or managed by the Trust;

S. 17(3)(b) amended by No. 56/1997
s. 7(d).

(b) in payment of fees and allowances payable to members;

S. 17(3)(c) substituted by Nos 34/1995 s. 10(b)(ii), 56/1997
s. 7(e).

(c) in payment of the costs of the management of the National Tennis Centre, Olympic Park or any other land, facilities or services operated or managed by the Trust including the costs of employing people for the purposes of managing and operating the land, facilities or services;

S. 17(3)(d) repealed by No. 56/1997
s. 7(f).

(e) in payment or discharge of any debts or liabilities incurred by or on behalf of the Crown in connexion with the planning, design and construction of the Centre before the coming into operation of this Act;

S. 17(3)(f) inserted by No. 56/1997
s. 7(g).

(f) in payment of any other amount authorised or required to be paid out of the Fund under this Act or agreed to by the Trust and the Minister to be paid out of the Fund.

(4) The Trust may invest any money in the Fund in any manner approved by the Treasurer.

S. 17(5) substituted by No. 11/2001 s. 3(Sch. item 47).

(5) The Trust may open and maintain one or more accounts in the name of the Trust with any authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth.