242CDerelict Mine Sites Fund

#### 242C Derelict Mine Sites Fund 242C Derelict Mine Sites Fund > > (1) There is established in the Special Deposits Account the Derelict Mine Sites Fund. > > > (2) Money in the Fund is under the control of the Secretary and may be spent by the Secretary only for the purposes authorised by this section. > > > (3) There is to be paid into the Fund— > > > > > (a) the balance of any money received from the sale of mining plant under section 246 after all deductions have been made in accordance with that section, and > > > > > (b) the proceeds of investment of money in the Fund, and > > > > > (c) money obtained under a security deposit that is payable into the Fund under section 261F or 261G, and > > > > > (c1) any money paid into the Fund from the Minerals and Petroleum Administrative Fund maintained under Part 14B, and > > > > > (d) any other money that is appropriated by Parliament for the purposes of the Fund, that is required by law to be paid into the Fund or that the Minister has approved being paid into the Fund. > > > (4) Subject to the regulations, there may be paid out of the Fund— > > > > > (a) compensation payable to a landholder under section 242B, and > > > > > (b) any other costs associated with the rehabilitation of derelict mine sites under this Division, as determined by the Secretary. > > > (5) The Secretary may invest money in the Derelict Mine Sites Fund— > > > > > (a) if the Department is a GSF agency for the purposes of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055), Part 6—in a way the Department is permitted to invest money under that Part, or > > > > > (b) if the Department is not a GSF agency for the purposes of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055), Part 6—in a way approved by the Treasurer. > > **s 242C:** Ins 2008 No 19, Sch 1 \[208\]. Am 2012 No 46, Sch 5.2 \[19\]; 2015 No 40, Sch 1 \[88\]; 2022 No 21, Sch 1\[90\].