Victorian Consolidated Legislation

Financial Management Act 1994 - SECT 19

PART 4 THE TRUST FUND

The Trust Fund

19. The Trust Fund



(1) The Minister may establish Trust Accounts in the Trust Fund and define the
purposes for which they are established.

(2) Subject to this section, Trust Accounts existing immediately before the
commencement of this section (whether or not established by an Act) continue
as Trust Accounts under this section.

(3) All money standing to the credit of an account which is a Trust Account
for the purposes of this section is deemed to be money standing to the credit
of the Trust Fund.

(4) The Minister may direct that a Trust Account be closed and, after all
liabilities of the Trust Account have been met, the Trust Account must be
closed accordingly.

(5) The Minister may direct that-

   (a)  any money standing to the credit of a Trust Account which is not
        required for the purposes of the Trust Account; and

   (b)  the balance of money standing to the credit of a Trust Account closed
        under this section-

be credited to another Trust Account or to the Consolidated Fund.