New South Wales Consolidated Acts

RURAL LANDS PROTECTION ACT 1998 - SECT 50

50 Authority’s fund

(1) An authority is to establish and maintain a fund into which is to be paid all money received by the authority by or under this or any other Act.

(2) Money may be paid from the authority’s fund for any purpose allowed by or under this or any other Act.

(3) However:

(a) money that has been received by imposition of a special purpose rate may not be used otherwise than for the purpose for which the rate was levied, and

(b) money that is subject to the provisions of this or any other Act (being provisions that state that the money may be used only for a specific purpose) may be used only for that purpose, and

(c) money that has been received from a Government or a public authority by way of a specific purpose advance or grant may not (except with the consent of the Government or public authority) be used otherwise than for that specific purpose, and

(d) money that is held on trust must be applied for the purposes of or in accordance with the trusts relating to it.

(4) An authority is to keep a separate record of money of the kind referred to in subsection (3).

(5) Money in the authority’s fund may not be held otherwise than in an account with a bank, building society or credit union or in an investment in which such money is, by or under this or any other Act, authorised to be invested.