Queensland Consolidated Acts

MOTOR ACCIDENT INSURANCE ACT 1994 - SECT 28

28 Motor Accident Insurance Fund

(1) There is to be a fund called the Motor Accident Insurance Fund.

(2) The fund consists of—

(a) an amount transferred to the fund under section 33 (6) or 106 ; and

(b) the amounts received or recovered by the commission by way of the statutory insurance scheme levy under this Act; and

(c) the amounts received or recovered by the commission by way of the hospital and emergency services levy under this Act; and

(d) any penalties or penalty interest imposed under this Act; and

(e) income derived from the investment of the fund.

(3) The fund is to be applied to meet the cost of administering this Act, including—

(a) all expenditure by the commission in the exercise of statutory powers and functions (including payments to be made under section 106 (4) but not costs otherwise associated with the Nominal Defendant scheme); and

(b) payments relating to an advance of amounts under subsection (6) , that are payable under the terms of the advance.

(4) The amounts received into the fund by way of the hospital and emergency services levy are to be applied towards providing public hospital services and public emergency services and, for that purpose, are to be paid to relevant government entities.

(5) The Treasurer may decide at which periodic intervals, and in what proportions, the amounts are to be paid.

(6) The Treasurer may advance amounts to the fund on the terms the Treasurer considers appropriate.