409   The consolidated fund

(1)  All money and property received by a council must be held in the council’s consolidated fund unless it is required to be held in the council’s trust fund.

(2)  Money and property held in the council’s consolidated fund may be applied towards any purpose allowed by this or any other Act.

(3)  However:

(a)  money that has been received as a result of the levying of a special rate or charge may not be used otherwise than for the purpose for which the rate or charge was levied, and

(b)  money that is subject to the provisions of this or any other Act (being provisions that state that the money may be used only for a specific purpose) may be used only for that purpose, and

(c)  money that has been received from the Government or from a public authority by way of a specific purpose advance or grant may not, except with the consent of the Government or public authority, be used otherwise than for that specific purpose, and

(d)  money that has been received as rents, profits or other proceeds from a lease, licence or other estate granted in respect of community land must be expended on community land acquisition and community land management requirements, and may be used for any other purpose only to the extent that such receipts are surplus to the outgoings necessary to meet those requirements.

(4)  Pending its expenditure for the purpose for which it is held, money of the kind referred to in subsection (3) (a), (b) or (c) may not be held otherwise than in an account with a bank, building society or credit union or in an investment in which such money is, by or under this or any other Act, authorised to be invested.