Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) There is established by this subsection a fund to be known as the TSRA Housing Fund.
(2) The following amounts are to be paid into the TSRA Housing Fund:
(a) such amounts as are paid to the TSRA as repayment of, or otherwise in respect of, housing loans made by the TSRA under section 142F or 142GA;
(b) such amounts as are paid to the TSRA by any other person for the purposes of the TSRA Housing Fund;
(c) such amounts of the TSRA's money as the TSRA determines in writing.
(3) Money in the TSRA Housing Fund may only be applied:
(a) in making housing loans to individuals or bodies; or
(b) in making loans to individuals or bodies to enable the individuals or bodies to provide housing for Torres Strait Islanders, or Aboriginal persons, living in the Torres Strait area; or
(c) in making grants of money for the purposes of enabling Torres Strait Islanders, or Aboriginal persons, living in the Torres Strait area to obtain housing loans from lenders operating on a commercial basis.
(3A) Subsection ( 3) does not prevent the investment of money under section 59 of the Public Governance, Performance and Accountability Act 2013 .
(4) The TSRA must prepare estimates of the receipts of, and expenditure from, the TSRA Housing Fund for each financial year and, if the Minister so directs, for any other period specified by the Minister, and the TSRA must submit estimates so prepared to the Minister not later than such date as the Minister directs.
(5) Money in the TSRA Housing Fund must not be spent otherwise
than in accordance with estimates of expenditure approved by the Minister.