74Matters specified in project approval instrument

74 Matters specified in project approval instrument

(1) The project approval instrument for a Black Spot Project must: (a) identify the project; and (b) specify the maximum funding amount that the Commonwealth may contribute to the project; and (c) identify the eligible funding recipient, being a State or authority of a State, to which funding may be paid; and (d) if the approval is conditional on a funding agreement being entered into with the eligible funding recipient—contain a statement to that effect. (2) The project approval instrument for a Black Spot Project may exclude one or more specified purposes from being purposes on which funding may be expended.