Part 6Finance

Part 6—Finance 53—Payments to Service Corporation by State (1) There is payable to the Service Corporation such money as is appropriated by the Parliament of the State for the purposes of the Corporation. (2) The Treasurer of the State may give directions about the amounts in which, and the times at which, money payable under subsection (1) is to be paid to the Corporation. 54—Payments to Service Corporation by Commonwealth and other States and Territories The Service Corporation may receive money paid to it by the Commonwealth or by another State or Territory. 55—Money of Service Corporation The money of the Service Corporation consists of— (a) money paid to the Corporation under section 53; and (b) money received by the Corporation under section 54; and (c) any other money paid to the Corporation. 56—Application of money of Service Corporation (1) The money of the Service Corporation is to be applied— (a) in payment or discharge of the costs, expenses and other obligations incurred by the Corporation in the performance of its functions and the exercise of its powers (including costs and expenses incurred by the Corporation on behalf of the Council or a committee of the Council); and (b) in payment of any remuneration or allowances payable under this Act; and (c) in providing, or paying for, any other benefits that are authorised under this Act. (2) Subsection (1) does not prevent investment of surplus money of the Service Corporation under section 18 of the Commonwealth Authorities and Companies Act 1997 of the Commonwealth as it applies to the Service Corporation under section 59 of the Commonwealth Act. 57—Estimates (1) The NEPC Executive Officer is to prepare estimates, in such form as the Council directs, of the Service Corporation's receipts and expenditure for each financial year and, if the Council so directs, for any other period specified by the Council. (2) The Executive Officer must submit estimates so prepared to the Council not later than such date as the Council directs. (3) Except with the consent of the Council, the money of the Corporation must not be spent otherwise than in accordance with estimates of expenditure approved by the Council. (4) A direction, consent or approval for the purposes of this section is to be given by resolution of the Council carried in accordance with section 28. 58—Application of the Commonwealth Authorities and Companies Act 1997 of the Commonwealth (1) The Service Corporation is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1997 of the Commonwealth (the Commonwealth Authorities and Companies Act). (2) Sections 9, 18 and 20 of the Commonwealth Authorities and Companies Act, and Schedule 1 to that Act, apply in relation to the Service Corporation as if it were a Commonwealth authority for the purposes of that Act. (3) Section 9 of the Commonwealth Authorities and Companies Act applies in relation to the Service Corporation as if the NEPC Executive Officer were a director of the Service Corporation for the purposes of that Act. (4) Schedule 1 to the Commonwealth Authorities and Companies Act applies in relation to the Commission as if references in that Schedule to the Finance Minister's Orders were references to requirements set out in a resolution of the Ministerial Council carried in accordance with section 28 of this Act. (5) An annual report prepared under section 9 of the Commonwealth Authorities and Companies Act must also contain any other information required by the Council to be included in the report. (6) A copy of each annual report given to the Minister must be given to each member of the Council as soon as practicable.