New South Wales Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

LOCAL GOVERNMENT (GENERAL) REGULATION 2005 - REG 205

Withdrawal of certain money

205 Withdrawal of certain money

A council must ensure that the following classes of money are withdrawn for use only for the purpose for which it is held or for investment in accordance with section 625 of the Act:

(a) money that the council must set aside to repay the principal outstanding on loans made to the council on interest-only terms,
(b) money lent to the council not yet expended for the purpose for which the money was obtained,
(c) money that the council must set aside to meet outstanding claims to be met by the council under any self-insurance scheme that the council operates.
Section 409 (3) of the Act contains requirements in respect of the use of other classes of money. Those classes are:
(a) money received as a result of levying a special rate or charge,
(b) money that is, by the provisions of an Act, required to be set aside for a specific purpose,
(c) money received from the Government or a public authority for a specific purpose.
Section 625 of the Act specifies the way in which a council may invest its surplus funds.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback