Contents (1998 - 82)
Environmental Trust Act 1998 No 82
Part 4 Finance
18 Environmental Trust Fund
(1) There is to be established in the Special Deposits Account an Environmental Trust Fund into which are to be paid:(a) the amounts appropriated for the purposes of the Fund by section 19, and(b) such other money as may be appropriated by Parliament for payment into the Fund, and(c) the proceeds of investment of money in the Fund, and(d) any gift or bequest of money to the Trust, and(e) such other money as may be required or permitted to be paid into the Fund.(2) Money in the Trust Fund is under the control of the Trust and can be expended by the Trust for the purpose of the exercise of its functions as authorised by this Act (or for the purposes authorised by the Forestry Restructuring and Nature Conservation Act 1995) and the costs incurred in administering this Act (or that Act).
19 Standing appropriation of Consolidated Fund for payment to Trust Fund
(1) There is payable from the Consolidated Fund into the Trust Fund each financial year (commencing with the 1998–99 financial year) the amount of $13.5 million, as adjusted under subsection (2) for each subsequent financial year.(2) For the purpose of the payment under subsection (1), the amount of $13.5 million is to be adjusted for a financial year in accordance with the formula:and rounded to the nearest $1,000.(3) In subsection (2):CPI means:(a) the Consumer Price Index (All Groups Index) for Sydney issued by the Australian Statistician, or(b) if the Australian Statistician ceases to issue that index or the regulations so provide—the number determined in accordance with the regulations.(4) The Consolidated Fund is appropriated by this section for the purposes of payments to the Trust Fund under this section.(5) Payments to the Trust Fund under this section are to be made in such instalments and at such times as the Treasurer determines.(6) This section is subject to clause 5 of Schedule 3.
The Trust is to invest money in the Trust Fund:(a) in the manner authorised by the Public Authorities (Financial Arrangements) Act 1987, or(b) if that Act does not confer power on the Trust to invest the money, in any other manner approved by the Treasurer.