New South Wales Consolidated Acts

STATE SPORTS CENTRE TRUST ACT 1984 - SECT 12

12 Funds of the Trust

(1) The Trust shall establish at a bank, building society or credit union in New South Wales an account to be known as the “State Sports Centre Trust Account” (in this section referred to as "the Trust Account").

(2) The funds of the Trust shall be paid to the credit of the Trust Account and shall consist of:

(a) any money appropriated by Parliament for the purposes of the Trust,

(b) all money derived by the Trust from fees and other charges imposed for the hire of the trust property or of any part of it or for admission to any sporting or other event held on the trust land,

(c) all money derived by the Trust from the sale, leasing, letting on hire or other disposal by the Trust of any property which the Trust has power to sell, lease, let on hire or otherwise dispose of,

(d) all money received by the Trust as profit arising out of any investment made by it in the exercise of its powers,

(e) all money borrowed by the Trust, and

(f) all other money received from any source by the Trust.

(3) A payment of money to the credit of the Trust Account shall not be made if the payment would be a breach of a condition affecting the money.

(4) The funds of the Trust shall be applied only:

(a) in payment or discharge of the expenses, charges and obligations incurred or undertaken by the Trust in the exercise of its functions, and

(b) in the payment of any remuneration payable under this Act.