CTHRepealedAct
Snowy Mountains Hydro-electric Power Act 1949
30Application of moneys
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##### 30 Application of moneys
(1) Subject to subsection (2) and to section 19 of the Commonwealth Authorities and Companies Act 1997, the moneys of the Authority may be applied by the Authority:
(a) in payment or discharge of the costs, expenses or other obligations of the Authority; and
(b) in payment of remuneration and allowances payable to any person appointed under this Act or employed by the Authority under this Act or any other law;
and not otherwise.
(2) Moneys of the Authority to which paragraph (j) of sub‑clause (2) of clause 15 of the Agreement applies may be invested in accordance with that paragraph and not otherwise.
(3) The Treasurer may, on behalf of the Commonwealth, accept deposits made by the Authority in accordance with subsection (2), and pay or credit interest on those deposits to the Authority in accordance with the Agreement.