Commonwealth Consolidated Acts

NATIONAL MUSEUM OF AUSTRALIA ACT 1980 - SECT 35

  (1)   Moneys held by the Museum otherwise than upon trust shall be applied only:

  (a)   in payment or discharge of the costs, expenses and other obligations incurred by the Museum in the performance of its functions or the exercise of its powers under this Act; and

  (b)   in payment of any remuneration and allowances payable to any person under this Act.

  (2)   Subsection   ( 1) does not prevent investment, under subsection   (3) of this section or section   59 of the Public Governance, Performance and Accountability Act 2013 , of money that is not immediately required for the purposes of the Museum.

  (3)   In addition to investments authorised by section   59 of the Public Governance, Performance and Accountability Act 2013 , the Museum may invest the following in any other form of investment:

  (a)   money accepted as a gift or bequest to the Museum;

  (b)   money that the Museum receives from the disposal of property given, devised, bequeathed or assigned to the Museum by a person other than the Commonwealth;

  (c)   income received from an investment made under this subsection or from the disposal of such an investment.

Note:   See subsection   7(4) for obligations of the Museum as trustee of a trust.

  (4)   An investment under subsection   (3), or the disposal of such an investment, must be in accordance with a policy in force under section   36.