Western Australian Consolidated Acts Western Australian Consolidated Acts (1)
Subsection (2) applies if —
(a) a
department or sub-department holds other money; or
(b) a
statutory authority holds statutory authority money or other money,
whether in the Public
Bank Account or in a bank account maintained under section 13 that does
not form part of the Public Bank Account.
(2) If this subsection
applies, the Treasurer may authorise the department, sub-department or
statutory authority to invest money referred to in
subsection (1) —
(a) in
the same manner as money in the Public Bank Account may be invested under
section 37; and
(b) in
accordance with any written directions issued by the Treasurer, which may
include directions about how income from investment under this section is to
be dealt with.
(3)
Subsection (2) has effect —
(a)
subject to another written law concerning the investment of particular money;
and
(b) for
money in an agency special purpose account — subject to the terms
of any trust statement relating to the account.
(4)
Subsection (2) does not limit the power of —
(a) a
department or sub-department to hold public money or other money; or
(b) a
statutory authority to hold statutory authority money or other money,
in an interest bearing
bank account maintained under section 13 but, for public money referred
to in paragraph (a), the interest is to be paid into the Public Bank
Account and credited to the Consolidated Account.
(5) If —
(a) a
department or sub-department holds other money; or
(b) a
statutory authority holds statutory authority money or other money,
in a bank account that
does not form part of the Public Bank Account, the department, sub-department
or statutory authority may transfer that money to the Public Bank Account for
investment under section 37.
(6)
Subsection (5) has effect —
(a)
subject to another written law concerning the investment of particular money;
but
(b)
despite another written law requiring money to be held in a particular bank
account.