ENVIRONMENTAL PLANNING AND ASSESSMENT ACT 1979 - SECT 7.31A
Establishment of HAP Fund
ENVIRONMENTAL PLANNING AND ASSESSMENT ACT 1979 - SECT 7.31A
Establishment of HAP Fund
7.31A Establishment of HAP Fund
(1) There is established in the Special
Deposits Account a fund called the Housing and Productivity Fund (
"HAP Fund" ).
(2) Different accounts must be established in the HAP Fund to
ensure--
(a) housing and productivity contributions from development on land
in a region, and proceeds from the investment of the contributions, are
expended in the region as required by Subdivision 4, and
(b) the transport
project component from development on land in an area, and proceeds from the
investment of the component, are expended for the benefit of the area.
(3)
The HAP Fund must be administered by the Treasury Secretary.
