189Application of money in Statutory Interest Account

#### 189 Application of money in Statutory Interest Account 189 Application of money in Statutory Interest Account > > (1) Money in the Statutory Interest Account may be applied for any purpose for which it is required or permitted to be applied by or under this or any other Act. > > > (2) The Secretary may, with the consent of the Minister, apply money held in the Statutory Interest Account for all or any of the following purposes— > > > > > (a) supplementing the Compensation Fund by such amount as may be needed to enable the current liabilities of the fund to be met, > > > > > (b) providing grants or loans for providing or undertaking education or research programs relating to the property services industry and approved by the Minister, > > > > > (c) providing money for the establishment or administration of rental advisory services, > > > > > (d) meeting the costs of administering this Act, the [Conveyancers Licensing Act 2003](/view/html/inforce/current/act-2003-003) and any other Act prescribed by the regulations for the purposes of this paragraph (or the prescribed provisions of any other Act), > > > > > (e) (Repealed) > > > > > (f) meeting the costs of operating a scheme or schemes for resolving disputes arising between consumers and providers of services provided in the property services industry, > > > > > (g) investing in schemes that relate to the provision of residential accommodation or, subject to such terms and conditions as may be prescribed by the regulations, in loans to authorised deposit-taking institutions. > > > (3) The Treasurer may determine whether any such money is to be invested in any such scheme or loan and the amount to be invested in a scheme or loan. > > > (4) In this section— > > > > property services industry includes— > > > > > (a) the business of selling, managing or otherwise dealing with property (including businesses) that is subject to licensing, registration or regulation under the [Property, Stock and Business Agents Act 2002](/view/html/inforce/current/act-2002-066), or > > > > > (b) the carrying out of conveyancing work as defined by the [Conveyancers Licensing Act 2003](/view/html/inforce/current/act-2003-003), > > > > and includes anything prescribed by the regulations as being within this definition, but does not include anything prescribed as excluded from it. > > **s 189:** Am 2003 No 3, Sch 2.8 \[3\]; 2003 No 4, Sch 1.8; 2015 No 48, Sch 1.20; 2018 No 65, Sch 6.4 \[1\]–\[4\].