27Transport Accident Fund

27 Transport Accident Fund (1) The Commission shall establish and maintain a Fund to be called the Transport Accident Fund. (2) The following must be paid into the Fund— S. 27(2)(a) amended by No. 17/1993 s. 11(1). (a) the transport accident charges and additional amounts paid under this Act; S. 27(2)(b) repealed by No. 34/1998 s. 5. S. 27(2)(c) amended by No. 32/1988 s. 7(2). (c) any amount received as a penalty for an offence against this Act or the regulations; (d) any income from the investment of any money credited to the Fund and the proceeds of the sale of any investment; S. 27(2)(e) amended by No. 100/1995 s. 10(1)(Sch. 1 item 5.1(a)). (e) any money that the Commission borrows; (f) any money required or permitted to be paid into the Fund under this or any other Act; S. 27(2)(fa) inserted by No. 79/1992 s. 6(a), repealed by No. 71/2013 s. 8(3). S. 27(2)(fb) inserted by No. 26/2000 s. 25(8). (fb) any money received by the Commission in relation to its functions under sections 12(1)(jb) and 12(1)(jc); (g) all other money that the Commission receives under or for the purposes of this or any other Act. (3) The following may be paid out of the Fund— (a) payments of compensation under this Act or that the Commission is liable to pay under any other Act and payments required by a determination of the Commission or the Tribunal to be paid out of the Fund; (b) payments of damages that the Commission is liable to pay; (c) any refund under Part 7 and any payment required or permitted to be paid out of the Fund by or under this or any other Act; (d) any payment required or authorized to be made or which is for or towards the costs and expenses of or incidental to the performance of the functions or the exercise of the powers of the Commission; (e) all money required for the repayment of borrowings by the Commission and for the payment of interest payable in respect of the borrowings; S. 27(3)(ea) inserted by No. 84/2000 s. 10. (ea) any payment of an amount to the State under section 29A or 29B; (f) any sum agreed by the Treasurer and the Attorney-General for payment to the Consolidated Fund in respect of court administration expenses relating to proceedings in respect of transport accidents before the commencement of section 34; S. 27(3)(fa) inserted by No. 46/2005 s. 7. (fa) payments to the Consolidated Fund of amounts certified by the Treasurer, after consultation with the Minister, representing the costs incurred, or to be incurred, annually by the Ombudsman in enquiring into or investigating administrative actions (as defined by the **Ombudsman Act 1973**) of the Commission; (g) any remuneration payable to fund management agents; (h) any payment whether for the whole or part of the cost of studies or programs approved by the Commission; S. 27(3)(ha) inserted by No. 79/1992 s. 6(b), repealed by No. 71/2013 s. 8(3). S. 27(3)(hb) inserted by No. 50/1994 s. 105, amended by No. 67/2013 s. 649(Sch. 9 item 32(6)). (hb) any payment which the Commission becomes liable to make under a settlement under section 137A of the **Accident Compensation Act 1985**, section 368 of the **Workplace Injury Rehabilitation and Compensation Act 2013** or under section 38AA or 94A of this Act; S. 27(3)(hc) inserted by No. 26/2000 s. 25(9). (hc) any payment which the Commission is required to make in relation to its functions under sections 12(1)(jb) and 12(1)(jc); (i) any other costs and expenses incurred by the Commission under this or any other Act; S. 27(3)(j) inserted by No. 94/2004 s. 7. (j) any payments required to fulfil any agreement made by the Commission in respect of the payment of the legal costs of a person who has applied for compensation or damages that is not otherwise authorised under this subsection. S. 27(4)(5) repealed by No. 34/1998 s. 5. S. 27(6) amended by No. 11/2001 s. 3(Sch. item 79). (6) For the purposes of this section, the Commission may open and maintain one or more accounts in the name of the Commission with any authorised deposit-taking institution or institutions within the meaning of the Banking Act 1959 of the Commonwealth. S. 27(7) amended by No. 100/1995 s. 10(1)(Sch. 1 item 5.1(b)). (7) The Commission may invest any money standing to the credit of the Fund in accordance with the powers conferred on it under the **Borrowing and Investment Powers Act 1987**. (8) If any money is invested under subsection (7) in the purchase of any land or the construction or alteration of any buildings, the whole or part of the land or buildings may be used by the Commission in connection with its powers, duties or functions under this Act. (9) In the performance of its functions, the Commission may for the purposes of and in accordance with any rule of any court in that behalf, execute and lodge with the proper officer of the court a bond conditioned for the payment into court by the Commission of a sum of money in satisfaction of any claim. S. 28 substituted by No. 100/1995 s. 10(1)(Sch. 1 item 6.1).