SCHOOL EDUCATION ACT 1999 - SECT 113
SCHOOL EDUCATION ACT 1999 - SECT 113
113 . Bank account for school funds
(1) Moneys forming
part of a school fund are to be paid into an account at a bank approved by the
chief executive officer.
(2) A government
school is to have only one such bank account for each school fund except to
the extent that the chief executive officer approves otherwise.
(3) The bank account
or accounts may only be operated jointly by —
(a) the
principal; and
(b) one
or more office-holders, or persons belonging to a class, designated under
subsection (4).
(4) The chief
executive officer is to designate for each government school the
office-holders or class of persons who may act under subsection (3)(b).
(5) In this section
—
bank means —
(a) an
ADI (authorised deposit-taking institution) as defined in section 5 of the
Banking Act 1959 of the Commonwealth; or
(b) a
bank constituted by a law of a State, a Territory or the Commonwealth.
[Section 113 amended: No. 74 of 2003 s. 107(3).]