12Rosetta Landslip Trust Fund

12 Rosetta Landslip Trust Fund

(1)  [Section 12 Subsection (1) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] There is established in the Public Account an account known as the Rosetta Landslip Trust Fund.

(2)  There is to be paid into the Fund money to be used in respect of earth movements in the affected area.

(3)  There is to be paid out of the Fund –

(a) the cost of purchasing an affected property in accordance with this Act; and

(b) the cost of demolishing any building or other structure on any affected property, and any costs incurred to make a property purchased in accordance with this Act safe; and

(c) any payment made in accordance with any agreement made between an eligible owner, the Crown, the Council and the Bank; and

(d) in respect of monies in the Fund to which the Bank has not been a contributor – any payment made in accordance with any agreement made between the Crown and the Council; and

(e) any other amount agreed by the Crown, the Council and the Bank.

(4)  *[Section 12 Subsection (4) amended by No. 30 of 1995, s. 3 and Sched. 1 ]*Notwithstanding the Local Government Act 1993 , the Council is authorized to contribute to the Fund.

(5)  Notwithstanding the Trustee Banks Act 1985 , the Bank has power to contribute to the Fund.

(6)  [Section 12 Subsection (6) omitted by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] .  .  .  .  .  .  .  .