Western Australian Consolidated Acts

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GOLD CORPORATION ACT 1987 - SECT 55

55 .         Funding

        (1)         Subject to this Act, the funds available for the purpose of enabling Gold Corporation, the Mint and GoldCorp to exercise functions under this Act comprise — 

            (a)         moneys appropriated by Parliament from time to time for the purpose;

            (b)         moneys standing to their respective credit in any account, or borrowed under section 11, 18 or 50;

            (c)         in the case of the Mint, moneys to which section 42 applies;

            (d)         the proceeds of sales effected or services provided; and

            (e)         all other moneys lawfully payable to and received by or made available to their respective credit.

        (2)         The funds referred to in subsection (1) shall be paid or transferred into, and placed to the credit of, banking accounts opened with the approval of the Treasurer and operated for the purposes of this Act, whether in Australia or elsewhere, which together shall be taken to constitute an account known as “the Gold Corporation Account”.

        (3)         There may be paid out of the Account, from the moneys from time to time available — 

            (a)         interest on, and repayments of, moneys borrowed or advanced under this Act; and

            (b)         all other expenditure lawfully incurred under this Act.

        [Section 55 inserted by No. 10 of 1990 s. 27.]

[ 56-66.         Deleted by No. 10 of 1990 s. 27.]



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