TELECOMMUNICATIONS ACT 1975 No. 55 of 1975 - SECT 75 Application of moneys.

TELECOMMUNICATIONS ACT 1975 No. 55 of 1975 - SECT 75

75. (1) Subject to this Act, the moneys of the Commission may be applied by
the Commission-

   (a)  in payment or discharge of the costs, expenses and other obligations
        of the Commission;

   (b)  in payment of remuneration and allowances payable to any person
        appointed or employed under this Act; and

   (c)  in making payments to Australia as provided by this Act, but not
        otherwise.

(2) Moneys of the Commission not immediately required for the purposes of the
Commission may be invested-

   (a)  on fixed deposit with an approved bank;

   (b)  in securities of Australia; or

   (c)  in any other manner approved by the Treasurer.