Commonwealth Numbered Acts

PRAWN EXPORT PROMOTION ACT 1995 No. 14, 1995 - SECT 9

9.(1) In this section, "levy money" means:

   (a)  money paid to FRDC under section 8; and

   (b)  money received by FRDC as interest from the investment of money
        referred to in paragraph (a).

(2) Subject to subsection (4), levy money may be expended only:

   (a)  for approved prawn export promotion activities; and

   (b)  for the purpose of meeting costs incurred by the Commonwealth in
        connection with the collection and recovery of amounts paid to FRDC
        under section 8; and

   (c)  for the purpose of meeting the costs incurred by FRDC in performing
        the function conferred by section 5; and

   (d)  for the purpose of meeting the costs incurred by the prescribed
        industry organisation in doing anything for the purposes of this Act.

(3) Levy money is not to be expended for the purpose referred to in paragraph
(2)(c) except with the approval of the prescribed industry organisation.

(4) Levy money not immediately required for approved prawn export promotion
activities or for a purpose referred to in paragraph (2)(b), (c) or (d) must
be invested:

   (a)  in securities of, or guaranteed by, the Commonwealth or a State; or

   (b)  on deposit with a bank; or

   (c)  in any other way that is consistent with sound commercial practice.