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Section 48 - Science and Industry Research Act 1949 - Application of moneys — Zoe

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Science and Industry Research Act 1949

48Application of moneys

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#### 48 Application of moneys (1) The moneys of the Organisation shall be applied only: (a) in payment or discharge of the costs, expenses and other obligations of the Organisation; and (b) in payment of remuneration and allowances payable to any person under this Act. (2) Subsection (1) does not prevent investment, under section 59 of the Public Governance, Performance and Accountability Act 2013, of money that is not immediately required for the purposes of the Organisation.

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