Commonwealth Numbered Acts

LOAN CONSOLIDATION AND INVESTMENT RESERVE AMENDMENT ACT 1978 No. 37, 1978 - SECT 3

3. (1) Section 4 of the Principal Act is amended-

   (a)  by omitting '', which shall be a Trust Account for the purposes of
        section sixty-two A of the Audit Act 1901-1955''; and

   (b)  by adding at the end thereof the following sub-section:

''(2) The Reserve shall form part of the Trust Fund referred to in section 60
of the Audit Act 1901, and the provisions of that Act relating to the Trust
Fund (other than section 62B of that Act) shall, subject to this Act, extend
to that portion of the Trust Fund that comprises the Reserve.''.

(2) The amendments made by sub-section (1) do not operate to make sub-sections
62A (4A) and (4B) of the Audit Act 1901 applicable in relation to the moneys
standing to the credit of the Loan Consolidation and Investment Reserve.