Australian Capital Territory Consolidated Acts

BUILDING AND CONSTRUCTION INDUSTRY TRAINING LEVY ACT 1999 - SECT 23

    (1)     The authority must establish and maintain a fund.

    (2)     The fund consists of—

        (a)     amounts received by the authority as payments of training levy or amounts payable under section 22 (4) after reassessment of the value of work; and

        (b)     interest generated by amounts standing to the credit of the fund.

    (3)     The moneys of the fund—

        (a)     are the property of the authority; and

        (b)     must be kept separate from all other property of the authority; and

        (c)     must be expended only in accordance with this Act.

    (4)     The authority must administer the fund in the way the Minister approves in writing.