Waste Assets Management Corporation Act 2010
3CWAMC Landfill Rehabilitation Fund
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3C WAMC Landfill Rehabilitation Fund
3C WAMC Landfill Rehabilitation Fund
(1) There is to be established in the Special Deposits Account a fund called the WAMC Landfill Rehabilitation Fund (the Fund). The Fund is to be administered by the Minister.
(2) There is payable into the Fund—
(a) out of the transaction proceeds under section 6, the amount of all outstanding WAMC landfill liabilities as at the completion of the authorised transaction (as determined under this section),
(b) interest and any other amounts accruing from time to time from the investments of the Fund.
(3) There is payable from the Fund—
(a) amounts in payment of (or in reimbursement for the payment of) any outstanding WAMC landfill liabilities, as directed by the Minister from time to time,
(b) amounts for payment to the Consolidated Fund as directed by the Minister from time to time, but only as permitted by this section,
(c) administrative expenses incurred in relation to the Fund.
(4) The Minister cannot direct a payment from the Fund to the Consolidated Fund if the balance standing to the credit of the Fund at the time of the payment is less than the amount of all outstanding WAMC landfill liabilities at that time.
(5) The amount of all outstanding WAMC landfill liabilities as at the completion of the authorised transaction is to be determined and reported to the Treasurer by the person appointed by the Treasurer as Technical Consultant for the authorised transaction.
(6) The annual report of the Waste Assets Management Corporation is to include details of the amounts paid from the Fund during the financial year to which the report relates and the purposes for which those payments were made.
(7) The Minister may invest money in the Fund—
(a) if the Minister is a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018—in any way that the Minister is permitted to invest money under that Part, or
(b) if the Minister is not a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018—in any way approved by the Treasurer.