11Regional Development Trust Fund

11 Regional Development Trust Fund

11 Regional Development Trust Fund

(1) There is to be established in the Special Deposits Account a Regional Development Trust Fund into which is to be paid—

(a) all money appropriated by Parliament for the purposes of this Act, and

(b) any gift or bequest of money for the purposes of the Fund, and

(c) any fees or charges paid under the regulations, and

(d) any financial assistance repaid under this Act, and

(d1) the proceeds of the investment of money in the Fund, and

(d2) money paid as the repayment of the principal or the payment of interest for loans paid out of the Fund, and

(d3) money directed by 1 of the following to be paid into the Fund—

(i) a Minister,

(ii) a government agency,

(iii) a GSF agency,

(iv) an accountable authority for a GSF agency, and

(d4) money paid into the Fund by another person as a voluntary contribution, and

(d5) other money required by the regulations to be paid into the Fund, and

(e) any other money required by law to be paid into the Fund.

(2) There may be paid out of the Fund—

(a) amounts of financial assistance under this Act, and

(b) the costs of administering this Act, and

(b1) the amounts necessary for the procurement of goods and services that support one or more of the purposes specified in section 3, and

(c) any other money payable by law out of the Fund.

(3) The Minister may invest money in the Fund in any way the Department is permitted to invest money under the Government Sector Finance Act 2018, Part 6.

s 11: Am 2024 No 64, Sch 1[10]–[12].