New South Wales Consolidated Acts

FISHERIES MANAGEMENT ACT 1994 - SECT 157

157 Annual contributions to be held in trust accounts

(1) The Minister is to establish and operate trust accounts for annual contributions made by permit holders (except those referred to in section 156 (1) (a)).

(2) The Minister may establish separate trust accounts for the different purposes for which the contributions are made.

(3) Money in a trust account is, subject to the regulations, to be used only for the purpose for which the relevant contributions were made.

(4) The Minister is to appoint a committee of persons to advise the Minister on the amount of contributions payable into any trust account and the expenditure of money in the trust account.

(5) The Minister must not approve of any expenditure from a trust account without the concurrence of the committee appointed in respect of the account.

(6) A single committee may be appointed in respect of 2 or more trust accounts.

(7) The Minister is to ensure that a majority of the members of each committee are representatives of the aquaculture industry.

(8) A committee is not subject to the control and direction of the Minister. However, the Minister may require a committee to reconsider any decision made by it.

(9) The Minister may remove any member or all members of a committee from office.

(10) The regulations may make provision for or with respect to:

(a) the establishment and operation of trust accounts under this section, and

(b) the establishment, membership and procedure of committees under this section.