New South Wales Consolidated Acts

STATE DEVELOPMENT AND INDUSTRIES ASSISTANCE ACT 1966 - SECT 34IA

34IA Industries Assistance Fund

(1) There shall be established in the Special Deposits Account in the Treasury an Industries Assistance Fund into which shall be paid:

(a) such portion of the money held in the Country Industries Assistance Fund immediately before the commencement of Schedule 4 (1) to the State Development and Industries Assistance (Amendment) Act 1986 as the Ministerial Corporation determines in accordance with arrangements made under Schedule 7 to that Act,

(b) such portion of the money held in the Advanced Technology Development Assistance Fund immediately before the commencement of Schedule 3 (2) to the State Development and Industries Assistance (Amendment) Act 1986 as the Ministerial Corporation determines in accordance with arrangements made under Schedule 7 to that Act,

(c) all money appropriated by Parliament for the purposes of Part 3 or 3A,

(d) all money borrowed by the Ministerial Corporation for the purposes of Part 3 or 3A, and

(e) all money received by the Ministerial Corporation in respect of the sale, lease, exchange or other dealing with or disposition of real or personal property that has been acquired by the Ministerial Corporation for the purposes of this Act, or on the granting of easements or rights-of-way over any land, or any part of land, so acquired.

(2) The Fund established by subsection (1) shall be applied for the following purposes:

(a) the payment of any amount for which the Ministerial Corporation is liable under the Capital Debt Charges Act 1957 ,

(b) the repayment of money borrowed by the Ministerial Corporation for the purposes of this Act, the repayment of interest on any such money and the payment of any borrowing expenses,

(c) the making of grants, and the payment of subsidies, by the Ministerial Corporation under Part 3,

(d) the payment to the Treasurer of the amounts required to be paid under subsection (3),

(e) the payment of any amount for which the Ministerial Corporation is liable by virtue of the performance or exercise of any of its functions or powers:

(i) under Part 3,

(ii) under Part 3A, or

(iii) under section 34J.

(f) the payment of the expenses of administering Parts 3 and 3A.

(3) The Ministerial Corporation shall, at such times as the Treasurer may from time to time determine, pay to the Treasurer such part as the Treasurer may from time to time determine:

(a) of the rental or other consideration received by that Corporation in respect of leases of real or personal property acquired by that Corporation for the purposes of Part 3, and

(b) of the purchase money received by that Corporation in respect of the sale on terms of, or other dealing or disposition on terms with or of, real or personal property acquired by that Corporation for the purposes of Part 3.