HOME BUILDING ACT 1989 - SECT 103EF Home Building Operational Fund

HOME BUILDING ACT 1989 - SECT 103EF

103EF Home Building Operational Fund

(1) There is established a fund, to be known as the Home Building Operational Fund, belonging to and vested in the Authority.

(2) The following is to be paid into the Fund--

(a) money required to be contributed to or otherwise paid into the Fund by or under this or any other Act,

(b) the interest from time to time accruing from the investment of the Fund.

(3) The following is to be paid from the Fund--

(a) the remuneration, allowances, office accommodation and other associated costs of the Board of the Authority and the members of staff of the Authority to the extent that those costs relate to the administration of this Act,

(b) all payments required to meet expenditure incurred in relation to the functions of the Authority under this Act, where money is not otherwise provided for that purpose,

(c) all other money required by or under this or any other Act to be paid from the Fund.

(4) The Authority may invest money in the Fund that is not immediately required for the purposes of the Fund--

(a) if the Authority is a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018 --in any way that the Authority is permitted to invest money under that Part, or

(b) if the Authority is not a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018 --in any way approved by the Minister with the concurrence of the Treasurer.