SCHOOL EDUCATION ACT 1999 - SECT 111

SCHOOL EDUCATION ACT 1999 - SECT 111

111 .         Management of school funds

        (1)         The management of a school fund is to be vested in the principal unless some other officer is designated by the chief executive officer to perform that function at the school.

        (2)         The chief executive officer may amend, revoke or replace a designation under subsection (1).

        (3)         Moneys forming part of a school fund may only be expended by or with the authority of the principal or the other person designated under subsection (1) and in accordance with —

            (a)         the regulations; and

            (b)         any directions (not being inconsistent with the regulations) issued by the chief executive officer either generally or in any particular case.

        (4)         However —

            (a)         money paid under a licence to which section 218 applies as a security for the performance of an obligation may only be applied in accordance with the licence; and

            (b)         subsection (3) only applies to that money if the money has been forfeited under, and in accordance with, the licence.