EDUCATION AND TRAINING REFORM ACT 2006 - SECT 4.2.8 Victorian Registration and Qualifications Authority Fund

EDUCATION AND TRAINING REFORM ACT 2006 - SECT 4.2.8

    (1)     The Authority must establish a Fund to be known as the Victorian Registration and Qualifications Authority Fund.

    (2)     There must be paid into the Fund—

        (a)     any investment income received by the Authority; and

        (b)     the proceeds of the sale of any investment made by the Authority; and

        (c)     any other money received by the Authority.

    (3)     There must be paid out of the Fund any payment that is authorised by the Authority to be made out of the Fund for or towards the costs and expenses of the exercise of powers or performance of functions by the Authority.

    (4)     The Authority may invest money in the Fund—

        (a)     in any manner in which a trustee may invest trust funds under the Trustee Act 1958 ; or

        (b)     in any other manner approved by the Minister.

S. 4.2.9 inserted by No. 85/2009 s. 4.