FISHERIES ACT 1995 - SECT 141 Fisheries Plant and Equipment Fund

FISHERIES ACT 1995 - SECT 141

    (1)     There is to be established and kept in the Treasury an account called the "Fisheries Plant and Equipment Fund".

S. 141(2) amended by No. 68/2016 s. 138.

    (2)     There is to be paid into the Fund those amounts that the Victorian Fisheries Authority determines are proper in the circumstances—

        (a)     to enable the purchase of any plant or equipment required for the purposes of this Act where the use of the plant or equipment for those purposes will extend over more than one financial year; and

        (b)     to enable the operation, maintenance and repair of that plant or equipment; and

        (c)     to enable the payment of any other expenses in relation to that plant and equipment.

    (3)     Any money in the Fund that is not immediately required may be invested in any manner approved by the Treasurer, and any income derived from an investment must be paid into the Fund.

    (4)     Subject to subsection (3), money may only be paid out of the Fund—

        (a)     for a purpose listed in subsection (1); and

S. 141(4)(b) amended by No. 68/2016 s. 138.

        (b)     on the written authority of the Victorian Fisheries Authority.

    (5)     If an item of plant or equipment purchased with money from the Fund is sold, the proceeds of the sale must be paid into the Fund.

    (6)     A reference in subsection (5) to an item of plant or equipment purchased with money from the Fund includes a reference to any item—

        (a)     that was purchased with money from the Conservation, Forests and Lands Plant and Machinery Fund established under section 23 of the Conservation, Forests and Lands Act 1987 ; and

        (b)     that was listed in the fixed asset register of the Department at the time of its sale.

    (7)     In this section "plant" includes boats and motor vehicles.