Subdiv 9Statutory funds

Subdivision 9—Statutory funds 182—Establishment of funds (1) The Chief Executive must establish a fund for the purposes of each scheme that provides for the imposition of a charge under Subdivision 2 or Subdivision 3 (including in conjunction with the operation of Subdivision 7 or Subdivision 8). (2) The fund will consist of— (a) any money— (i) payable to the Minister under a charge imposed under Subdivision 2 (including under Subdivision 7); or (ii) payable by a council and recovered under Subdivision 8; and (b) any income and accretions produced by the investment of money from the fund; and (c) any money advanced or made available by the Treasurer for the purposes of the fund; and (d) any money appropriated from the Consolidated Account for payment into the fund; and (e) other money paid into the fund under this or any other Act. (3) The fund will be applied towards the purposes of the relevant scheme in accordance with any directions or approvals of the Treasurer made or given after consultation with the Minister, including so as to provide for, or to make reimbursements for, payments that have already been made. (4) The Minister may, after seeking the advice of the Treasurer, invest money that is not immediately required for the purposes of the fund as the Minister thinks fit. 183—Audit of funds A fund established under this Subdivision will be taken to form part of the accounts of the Department for the purposes of the Public Finance and Audit Act 1987.