Commonwealth Numbered Acts

AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 No. 105 of 1978 - SECT 34

34. (1) The Minister for Finance shall, in accordance with this section, pay
$2,000,000 to the Corporation out of the Consolidated Revenue Fund, which is
appropriated accordingly.

(2) The Minister for Finance shall pay the amount specified in sub-section (1)
to the Corporation in annual instalments of $1,000,000 and shall pay the first
such instalment as soon as practicable after the commencement of this Act.

(3) The capital of the Corporation at any time is the sum of-

   (a)  each instalment that has been paid to the Corporation under
        sub-section (2);

   (b)  any amounts paid to the Corporation by the Minister for Finance out of
        moneys appropriated by the Parliament for the purpose of providing
        further capital for the Corporation; and

   (c)  any amounts transferred from the General Reserve of the Corporation to
        the capital account of the Corporation in pursuance of directions
        given under sub-section (4), less the sum of any amounts of capital
        repaid to the Commonwealth by the Corporation.

(4) The Minister may, from time to time, direct the Board to transfer a
specified amount from the General Reserve of the Corporation to the capital
account of the Corporation, and the Board shall comply with such a direction.

(5) In giving a direction under sub-section (4), the Minister shall have
regard to any advice that the Board has furnished to him in relation to the
financial affairs of the Corporation.