Commonwealth Numbered Acts

DAIRY PRODUCE ACT 1986 No. 54 of 1986 - SECT 74

74. (1) The money of the Corporation shall be applied only-

   (a)  in payment of any remuneration and allowances, or reimbursement of
        expenses, payable under this Act;

   (b)  in payment of remuneration and allowances of members of the staff of
        the Corporation;

   (c)  in meeting costs and expenses incurred in connection with the
        discharge of the function of the Selection Committee;

   (d)  in making payments to the Commonwealth under sub-section 65 (2); and

   (e)  in payment of any other expenses, charges, obligations or liabilities
        incurred or undertaken by the Corporation in connection with the
        performance of its functions, not being a payment in respect of which
        express provision is made in another provision of this Act or in a
        provision of the Dairy Industry  Stabilization Act 1977 .

(2) Money of the Corporation not immediately required for the purposes of the
Corporation-

   (a)  may be invested-

        (i)    on interest-bearing deposit with an approved bank;

        (ii)   in any securities of, or guaranteed by, the Commonwealth or a
               State;

        (iii)  by way of loan to a corporation, being a corporation declared
               by the Reserve Bank for the purposes of regulations in force
               under the Banking Act  1959 to be an authorised dealer in the
               short-term money market, upon the security of securities of the
               Commonwealth; or

        (iv)   in any other manner approved by the Treasurer; or

   (b)  may be lent to a relevant fund.

(3) Money of the Corporation shall not be lent to a relevant fund except for
the purpose of meeting a temporary deficit in the fund.