19Western Parkland City Fund

19 Western Parkland City Fund

19 Western Parkland City Fund

(1) There is to be established in the Special Deposits Account a Western Parkland City Fund (the Fund) into which the following is to be paid—

(a) money advanced to the Authority by the Treasurer or appropriated by Parliament for the purposes of the Authority,

(b) money directed or authorised to be paid into the Fund by or under this or any other Act,

(c) the proceeds of the investment of money in the Fund,

(d) money received by the Authority from any other source (including commercial returns from land dealings or from any funding scheme implemented by the Authority).

(2) There is to be paid from the Fund—

(a) all amounts required to meet expenditure incurred by the Authority, and

(b) all amounts required to be paid by the Authority in accordance with any funding scheme implemented by the Authority, and

(c) all other payments required by or under this or any other Act to be paid from the Fund.

(3) The Fund is to be administered by the Authority.

(4) The Authority may invest money in the Fund—

(a) if the Authority is a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018—in any way that the Authority is permitted to invest money under that Part, or

(b) if the Authority is not a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018—in any way approved by the Minister with the concurrence of the Treasurer.

(5) In any Act or statutory or other instrument, or in any contract or agreement, a reference to the Western City Fund is to be construed as a reference to the Western Parkland City Fund.

s 19: Am 2018 No 53, sec 27; 2020 No 30, Sch 1.49[5]–[7].