Environmental Planning and Assessment Act 1979 No 203
Division 1 Funds
128 Department of Environment and Planning Account
The Account which has been established in the Special Deposits Account in the Treasury pursuant to section 30 (1) of the State Planning Authority Act 1963 shall be continued under a name determined by the Treasurer.
129 Funds generally
(1) In connection with the Account referred to in section 128, there shall be created in the books of the Department the following funds:(a) a Development Fund in respect of each development area (each of which funds is referred to in this Part as a Development Fund), and(b) the Trust Fund (which is referred to in this Part as the Trust Fund).(2) The funds shall be separate and distinct.
130 Development Funds
(1) The Development Fund in respect of each development area shall consist of:(a) all money borrowed for the purpose of the acquisition or development of land within the development area and for the purpose of repaying or renewing a loan obtained for that purpose and the proceeds of any levy or assessment made by the corporation for the purpose of repaying money so borrowed or renewing such a loan,(b) the proceeds of the sale or lease by the corporation of any land situated within the development area,(c) all money and land directed by or under this Act to be allocated to the Development Fund,(d) all money received as a result of the investment of the Development Fund as authorised by this Act, and(e) such other money as the Treasurer authorises to be paid into the Development Fund.(2) All land vested in the corporation and situated within a development area shall form part of the assets of the Development Fund in respect of that development area.(3) The Development Fund in respect of each development area may be applied to any of the following purposes:(a) the acquisition or development of any land within the development area,(b) the payment of rates and charges due and payable by the corporation in respect of land within the development area,(c) transfers to any reserve for loan repayment in respect of money borrowed in respect of the development area or in respect of any loan transferred to the corporation in pursuance of Schedule 3 to the Miscellaneous Acts (Planning) Repeal and Amendment Act 1979,(d) payment of principal, interest and expenses in respect of money borrowed in respect of the development area or in respect of any loan transferred to the corporation in pursuance of that Schedule,(e) any purpose authorised by or under this Act for the application of the Development Fund,(f) the creation of assets and incurring and discharging liabilities not inconsistent with the purposes of the Development Fund,(g) payment of principal, interest and expenses in respect of money borrowed which is not chargeable to any fund other than the Development Fund, or in respect of a loan or asset transferred from another fund,(h) the investment of money for the creation of reserves for any purposes not inconsistent with the purposes of the Development Fund,(i) any costs incurred in the administration of the Development Fund.(4) The Development Fund may also be applied, with the approval of the Minister, to the development of land (whether vested in the corporation or not) within the development area for the purpose of an improvement program, if:(a) the Minister has considered likely future applications of the Development Fund for all the purposes in subsection (3), and(b) in the opinion of the Minister, implementation of the improvement program will improve public amenity by:(i) enhancing open space or the public domain, or(ii) providing suitable infrastructure or facilities at a regional or local level.(5) The Development Fund in respect of each development area may be applied to purposes that are necessary, incidental, subordinate or supplementary to any of the purposes specified in subsection (3) or (4).
131 Trust Fund
(1) The Trust Fund shall consist of the following assets:(a) all money and land held by the corporation by way of deposit or in trust for any person,(b) all money and land assigned, conveyed, bequeathed or devised to the corporation in trust for the purpose of any function which the corporation is by or under this Act empowered to exercise,(c) all money received as a result of the investment of the Trust Fund as authorised by this Act.(2) The Trust Fund shall be applied as follows:(a) where the money or land is held by way of a deposit or in trust for any person, the money may be paid or the land may be assured to or on behalf of the person entitled thereto, but if the money has remained in the Trust Fund for 10 years, the corporation may transfer it to such Development Fund as it may deem proper, subject to repaying it from that fund to any person entitled thereto,(b) except as otherwise provided in this section, for the purposes and according to the trusts upon which the money or land is held by the corporation,(c) by investment in securities authorised under the Trustee Act 1925 or for the purposes of and according to the trusts referred to in paragraph (b).
132 Constitution of development areas
(1) Development areas may be constituted in accordance with this section.(2) The Secretary may, by notice published in the Gazette, notify a proposal to constitute as a development area any area or areas or parts of areas specified in the notice.(3) In determining which areas or parts of areas should be included in the development area, the Secretary shall have regard to any environmental planning instruments relating to those areas or parts, environmental planning principles and such other matters as the Secretary thinks fit.(4) Within 14 days after the publication in the Gazette of the notice referred to in subsection (2), the Secretary shall, in the prescribed manner, notify the councils of the areas or parts of areas proposed to be included in the development area of the proposal and the reasons therefor and otherwise publicise the proposal.(5) Any person may, by notice in writing, lodge with the Secretary, within 3 months after the publication in the Gazette of the notice referred to in subsection (2), representations in relation to the proposal.(6) Where representations have been lodged under subsection (5), the Secretary shall refer the matter to the Minister who shall either:(a) confirm the proposal, or(b) alter the proposal by excluding, from the proposed development area, any area or part of an area other than an area or part in which the corporation has acquired land pursuant to section 9.(7) If the Minister has requested that a review be held by the Planning Assessment Commission with respect to the proposal, the Minister must not determine the application until after:(a) the review has been held, and(b) the Minister has considered the findings and recommendations of the Commission following the review.(8) If no representations are lodged under subsection (5), the proposal shall be deemed to be confirmed immediately on the expiry of the period allowed for the lodgment of representations.(9) The areas or parts of areas specified in the proposal as confirmed or altered shall, upon publication in the Gazette of a notice constituting them as a development area, be constituted as a development area under the name specified in the notice.
133 Alteration or abolition of development area
The Secretary may, by notice published in the Gazette, notify a proposal to alter a development area constituted under this Division by including therein any land or by excluding therefrom any land or to abolish such a development area, and the provisions of this Division shall apply to the notice as they apply to a notice referred to in section 132 (2).
134 Land to be in one development area only
Land shall not at the one time be within more than one development area.
135 Disallowance of constitution of development area
(1) A copy of the notice constituting, altering or abolishing a development area published in the Gazette in accordance with this Division shall be laid before each House of Parliament within 14 sitting days of that House after the date of publication.(2) If either House of Parliament passes a resolution, of which notice has been given within 15 sitting days of that House after a copy of a notice referred to in subsection (1) has been laid before it, disallowing the constitution, alteration or abolition of the development area, the constitution, alteration or abolition is thereupon revoked.(3) For the purposes of subsections (1) and (2), sitting days shall be counted, whether or not they occur during the same session.