New South Wales Consolidated Regulations

EXHIBITED ANIMALS PROTECTION REGULATION 2005 - REG 42

42 Bonds paid as condition of cetacea display licence

(1) For the purposes of section 37 of the Act:

(a) the prescribed amount is $60,000, and

(b) an arrangement for a financial institution to guarantee the payment of an amount to the Director-General (not exceeding $60,000) is a prescribed arrangement.

(2) The Director-General must invest any money:

(a) deposited with the Director-General under section 37 of the Act by a licensee and that has not, for the time being, been spent in accordance with that section, and

(b) paid to the Director-General under an arrangement referred to in subclause (1) (b) and that has not, for the time being, been spent in accordance with that section.

(3) The money must be invested:

(a) in a manner authorised by the Trustee Act 1925 for the investment of trust funds, and

(b) so that not more than one month’s notice is required for its repayment,

and the Director-General must arrange for the income to be paid directly to, or as authorised by, the licensee.

(4) In subclause (1):
"financial institution" means:

(a) a bank within the meaning of the Banking Act 1959 of the Commonwealth, or

(b) a financial institution approved by the Director-General.