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State Authorities Non-contributory Superannuation Act 1987
9Funds etc
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#### 9 Funds etc
9 Funds etc
> > (1) STC may establish and maintain such funds, accounts and reserves as, in the opinion of STC, are necessary or convenient for the administration of this Act.
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> > (2) STC shall cause to be paid to any such fund—
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> > > (a) contributions made by employers, and
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> > > (b) income derived from investment of the fund, and any profit made from realisation of any investment of the fund, and
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> > > (b1) Commonwealth co-contributions paid to STC, and
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> > > (c) money borrowed for the purposes of the fund, and
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> > > (d) any fees paid to STC arising under the family law superannuation legislation or Part 4D.
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> > (3) STC shall cause to be paid from any such fund—
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> > > (a) by transfer from the fund to the STC Administration Account maintained under the [Superannuation Administration Act 1996](/view/html/inforce/current/act-1996-039) administration costs incurred by STC, including administration costs arising under the family law superannuation legislation or Part 4D, and
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> > > (b) such amounts as are necessary to satisfy any liability of the fund with respect to tax payable under any Commonwealth taxation law, and
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> > > (c) the benefits payable under this Act, and
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> > > (c1) other amounts payable by STC and arising under the family law superannuation legislation or Part 4D, and
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> > > (d) any other amount payable from any such Fund under this or any other Act, and
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> > > (e) any amount payable as a debt due to the Commonwealth under the [Superannuation (Government Co-contribution for Low Income Earners) Act 2003](http://www.legislation.gov.au/) of the Commonwealth in respect of a Commonwealth co-contribution paid to STC.
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> > (4) If a loss is incurred in realising any investment forming part of the assets of a fund maintained under subsection (1), the fund is accordingly reduced by the amount of that loss.
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> **s 9:** Am 1988 No 135, Sch 1 (2); 1991 No 96, Sch 6; 1996 No 39, Sch 4; 2001 No 98, Sch 2 \[1\]; 2003 No 77, Sch 10 \[3\]–\[5\]; 2005 No 52, Sch 4 \[4\]–\[7\].