New South Wales Consolidated Acts

WOLLONGONG SPORTSGROUND ACT 1986 - SECT 27

27 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 “Wollongong Sportsground Trust” (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) any money received by the Trust under the Steel Regions Assistance Programme or from the Minister for Sport and Recreation, the Council of the City of Wollongong or any other person or body,

(c) any money derived by the Trust from fees and other charges imposed for the use of the trust lands,

(d) any money received by the Trust from the development of the tourist site, and

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

(3) A payment of money out of the Trust Account shall not be made if the payment would be in 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) for any other purpose authorised by or under this Act.