WEST BEACH RECREATION RESERVE ACT 1987 - SECT 22
WEST BEACH RECREATION RESERVE ACT 1987 - SECT 22
(1) The Trust must,
before the end of each financial year, recommend by writing to the Treasurer,
that the Trust pay a specified dividend, or not pay a dividend, for that
financial year, as the Trust considers appropriate.
(2) The Treasurer may,
after consultation with the Minister, by notice in writing to the Trust—
(a)
approve a recommendation of the Trust under subsection (1); or
(b)
determine that a dividend specified by the Treasurer be paid, or that no
dividend be paid,
as the Treasurer considers appropriate.
(3) The Trust must, if
so required by the Treasurer by notice in writing to the Trust at any time
during a financial year, recommend by writing to the Treasurer that a
specified interim dividend or specified interim dividends be paid by the Trust
for that financial year, or that no such dividend or dividends be paid by the
Trust, as the Trust considers appropriate.
(4) The Treasurer may,
after consultation with the Minister, by notice in writing to the Trust—
(a)
approve a recommendation of the Trust under subsection (3); or
(b)
determine that an interim dividend or interim dividends specified by the
Treasurer be paid, or that no interim dividend be paid,
as the Treasurer considers appropriate.
(5) Any determination
relating to whether a dividend should be paid under this section and, if so,
the amount of any dividend must take into account the nature and scope of any
non-commercial operations of the Trust, and any funding requirements or
arrangements associated with those operations.
(6) If a dividend or
interim dividend or dividends is or are to be paid by the Trust, the dividend
or dividends must be paid to the Treasurer in the manner and at the time or
times determined by the Treasurer after consultation with the Minister.
(7) If the Treasurer
receives an amount from the Trust under this section, the Treasurer may, after
consultation with the Minister—
(a)
allocate that amount, or a part of that amount, in a manner determined by the
Treasurer; or
(b) pay
that account, or a part of that amount, for the credit of the Consolidated
Account.
(8) A recommendation
under this section must be made by the Trust itself and may not be made by a
person, committee or other body under a delegation.