Commonwealth Numbered Acts

AUSTRALIAN BICENTENNIAL AUTHORITY ACT 1980 No. 49 of 1980 - SECT 12

12. (1) Moneys of the Authority shall be applied only-

   (a)  in payment or discharge of the costs, expenses and other obligations
        incurred by the Authority in the promotion of the objects of the
        Authority or the exercise of the powers of the Authority; and

   (b)  in payment of any remuneration and allowances payable to any person
        under the Memorandum of Association or the Articles of Association of
        the Authority.

(2) Moneys of the Authority that are not immediately required to be applied as
mentioned in sub-section (1) may be invested-

   (a)  on deposit with an approved bank;

   (b)  in securities of the Commonwealth; or

   (c)  in any other manner approved by the Treasurer.