Victorian Consolidated Legislation

Transport Act 1983 - SECT 66

General funds

66. General funds



(1) The Corporation shall establish a general fund.





(2) The Corporation shall with the approval of the Minister administering Part
7 of the Financial Management Act 1994 open and maintain accounts with any
authorised deposit-taking institution or institutions within the meaning of
the Banking Act 1959 of the Commonwealth and shall maintain at all times at
least one such account to be used for the purposes of its general fund.

(3) Subject to subsection (4), the Corporation shall pay into its general
fund-







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   (c)  all trading revenue, interest and other money received by or paid to
        the Corporation.





(4) Except where the Minister administering Part 7 of the
Financial Management Act 1994 otherwise approves, the Corporation shall pay
into the Works and Services Account-





   (a)  all money borrowed by the Corporation under this Act;



   (b)  all money resulting from the disposal by the Corporation of any real
        or personal property (whether or not under an arrangement by which the
        Corporation is to take a lease of the property so disposed of); and

   (c)  the proceeds of any advances or financial accommodation obtained by
        the Corporation pursuant to section 76-

unless such money or proceeds are to be used for the operating or trading
activity of the Corporation.

(5) All payments made by the Corporation shall be made out of its general
fund.





(6) The Corporation may invest money in its general fund in such manner as the
Minister administering Part 7 of the Financial Management Act 1994 from time
to time approves.







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Division 2-Borrowing powers

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