New South Wales Consolidated Acts

HERITAGE ACT 1977 - SECT 105

105 Payments out of the Fund

(1) There may be paid out of the Fund--

(a) all charges, costs and expenses incurred by the Minister and the corporation in exercising functions under this Act,

(b) the remuneration payable to the members of the Heritage Council under this Act,

(c) money required--

(i) to repay money borrowed under this Division,

(ii) to pay interest on money so borrowed, and

(iii) to pay the expenses of the corporation in borrowing money under this Division,

(d) the cost of acquiring land under Division 3,

(e) the cost of conserving any item of the environmental heritage vested in the corporation,

(f) grants or loans for the purpose of promoting and assisting the conservation of items of the environmental heritage,

(g) money required for the purpose of discharging any liability of the corporation under a guarantee given by the corporation,

(h) all money which the Minister directs shall be set aside to provide a reserve for insurance, and

(i) all costs incurred under sections 115 and 116.

(2) Any money set aside, as referred to in subsection (1) (h), may be invested by the corporation with the Treasurer or in any manner in which trustees are for the time being authorised to invest trust funds.

(3) Where--

(a) any lands are purchased under section 112 out of money wholly or partly appropriated by Parliament for the purposes of the Fund, and

(b) those lands, or any part of those lands, are sold under section 116,

there shall be paid from the Fund to the Treasurer, out of the proceeds of sale referred to in paragraph (b), such amounts as the Treasurer may determine.