Queensland Consolidated Acts

FINANCIAL ADMINISTRATION AND AUDIT ACT 1977 - SECT 41A

(1) If moneys for an investment were paid out of TISFIA, moneys received from the investment must be paid into TISFIA and dealt with as follows--

(a) the moneys necessary to fully recoup TISFIA for the amount paid from it for the investment must be kept in TISFIA but may be used for a further investment;

(b) as soon as practicable after the moneys received from the investment are paid into TISFIA--the Treasurer must identify the amount (the investment earnings) that exceeds the moneys recouped into TISFIA.

(2) To the extent the moneys for the investment were, under an arrangement with the Treasurer, attributable to a departmental financial-institution account, the Treasurer must--

(a) declare an amount from the investment earnings to be paid to the departmental financial-institution account as interest (the departmental interest); and

(b) arrange for the payment of the departmental interest from TISFIA into the departmental financial-institution account.

(3) The Treasurer must arrange for the payment of the balance of the investment earnings, less departmental interest to be paid under subsection (2), into a departmental financial-institution account of the treasury department.

(4) If moneys for an investment were paid out of the Treasurer's consolidated fund bank account, moneys received from the investment must be paid into the bank account.

(5) If moneys for an investment were paid out of a departmental financial-institution account, other than TISFIA, moneys received from the investment must be paid into the departmental financial-institution account.