New South Wales Consolidated Acts

TOURISM NEW SOUTH WALES ACT 1984 - SECT 23

23 Tourism Development Fund

(1) There shall be established and maintained in the Special Deposits Account in the Treasury a Tourism Development Fund into which shall be paid:

(a) from the Country Industries Assistance Fund in the Special Deposits Account in the Treasury such amounts as are from time to time agreed upon by the Minister and the Minister administering the State Development and Industries Assistance Act 1966 , the payment of which from that Fund is hereby authorised,

(b) any money appropriated by Parliament for the purposes of the Fund,

(c) money borrowed by Tourism New South Wales,

(d) principal money repaid in respect of loans referred to in subsection 2 (d) and interest received in respect of any such loan,

(e) the proceeds of any transaction affecting real or personal property acquired with money from the Fund, and

(f) such fees or other amounts received by Tourism New South Wales as may be determined by the Minister with the concurrence of the Treasurer.

(2) Money in the Fund may be expended by Tourism New South Wales for the purpose of:

(a) discharging such commitments of the Country Industries Assistance Fund with respect to tourism as were outstanding immediately before the payment into the Fund of the amounts referred to in subsection (1) (a),

(b) paying such of the expenses of administering this Act as relate to the collection and expenditure of money in the Fund,

(c) promoting and assisting the development of tourism,

(d) making grants or loans in aid of projects to facilitate the development of tourism and becoming a member of a company where, in the opinion of the Minister, the company’s objects provide principally for projects of that kind,

(e) repaying money borrowed by Tourism New South Wales, paying interest on money so borrowed and paying the expenses of Tourism New South Wales in borrowing money,

(f) discharging any liability of Tourism New South Wales under a guarantee given by Tourism New South Wales,

(g) paying any money for which Tourism New South Wales is liable under the Capital Debt Charges Act 1957 ,

(h) acquiring land pursuant to Part 4, and

(i) making any other payments that Tourism New South Wales is, by or under this Act or the regulations, required or authorised to make from the Fund.

(3) Tourism New South Wales shall, at such times as the Treasurer directs, pay to the Treasurer such part as the Treasurer specifies, when given the direction, of money paid as interest on any transaction referred to in subsection (1) (e) or on loans made under subsection (2) (d), other than loans made from money borrowed by Tourism New South Wales.

(4) There shall be paid, at such times as the Treasurer directs, from the Fund to the Treasurer for credit of the Consolidated Fund such percentage of such income, or such classes or descriptions of income, received by Tourism New South Wales as may be prescribed.

(5) In subsection (4), "income" includes, but is not limited to:

(a) rentals or other consideration in respect of leases, and

(b) fees or other revenue in respect of licences or agreements.