Northern Territory Consolidated Acts

BATCHELOR INSTITUTE OF INDIGENOUS TERTIARY EDUCATION ACT - SECT 37

(1) Subject to this Part, the Council may open and maintain an account or accounts with an ADI or the Territory Insurance Office as it considers appropriate for the Institute.

(2) All money received by the Institute is to be paid into an account of the Institute referred to in subsection (1).

(3) Subject to the terms of a trust or a condition under which money is acquired by the Institute, money in the accounts of the Institute is only to be applied -

(a) by or with the authority of the Council; and

(b) for the purposes of the Institute.