35Application of money of the Authority

35 Application of money of the Authority

(1) Subject to this section, the moneys of the Authority may be applied only: (a) in payment or discharge of the expenses, charges, obligations and liabilities incurred or undertaken by the Authority in or in connection with the performance of its functions, or the exercise of its powers, under this Act, the regulations or any other law; and (aa) in payment or discharge of the expenses, charges, obligations and liabilities incurred or undertaken by the Presiding Member of the Authority Selection Committee or the Authority Selection Committee in or in connection with the performance of the functions, or the exercise of the powers, of the Authority Selection Committee under this Act; and (ac) for the purposes of funding grape or wine research and development activities included in the broad groupings of grape or wine research and development activities specified in an annual operational plan in force; and (ad) in payment to the Commonwealth of amounts payable under the Primary Industries Levies and Charges Disbursement Act 2024; and (b) in payment of any remuneration, allowances, fees or expenses payable under this Act; and (c) in making any other payments that the Authority is authorized or required to make under this Act, the regulations or any other law. (1A) Money paid to the Authority under the Primary Industries Levies and Charges Disbursement Act 2024 may be spent by the Authority only in accordance with that Act. Spending must be in accordance with funding agreement (1B) The Authority must not spend money that has been paid to the Authority by the Commonwealth unless the Authority does so in accordance with a written funding agreement. No limit on investments (2) Subsections (1) and (1A) do not prevent investment, under section 59 of the Public Governance, Performance and Accountability Act 2013, of money that is not immediately required for the purposes of the Authority.