New South Wales Consolidated Acts

PORTS AND MARITIME ADMINISTRATION ACT 1995 - SECT 42

42 Waterways Fund

(1) There is established a fund to be called the Waterways Fund.

(2) There is payable into the Waterways Fund:

(a) all money received by the Authority (other than money required under subsection (3) to be paid into the Consolidated Fund), and

(b) all penalties recovered for offences against the marine legislation that are recovered in prosecutions brought by (or penalty notices issued by) any person except where the penalty is payable to a Port Corporation under section 21A, and

(c) all interest received in respect of the investment of money belonging to the Fund, and

(d) all money borrowed by the Authority, and

(e) all money appropriated by Parliament for the purposes of the Authority, and

(f) all money directed to be paid into the Fund by this or any other Act.

(3) The Minister may, with the concurrence of the Treasurer, determine whether money received by the Authority in the exercise of functions delegated to it by the Minister is to be paid into the Consolidated Fund or the Waterways Fund.

(4) There is payable from the Waterways Fund:

(a) all payments made on account of the Authority or otherwise required to meet the expenditure incurred in relation to the functions of the Authority, and

(b) the remuneration (including allowances) of the Chief Executive and staff of the Authority, and

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

(5) All money payable into the Fund is to be paid into one or more banks, building societies or credit unions in New South Wales.