Commonwealth Numbered Acts

LIVE-STOCK SLAUGHTER LEVY COLLECTION AMENDMENT ACT 1976 No. 43, 1976 - SECT 3

3. After section 10 of the Principal Act the following sections are inserted:-
Establishment of National Cattle Disease Eradication Trust Account.
''10A. (1) There is hereby established an account to be known as the National
Cattle Disease Eradication Trust Account.

''(2) The account established by sub-section (1) is a Trust Account for the
purposes of section 62A of the Audit Act 1901-1975. Payments into National
Cattle Disease Eradication Trust Account.
''10B. (1) There shall be paid into the National Cattle Disease Eradication
Trust Account-

   (a)  amounts equal to the amounts of levy received by the Commonwealth by
        virtue of paragraph 6 (1) (d) of the Live-stock Slaughter Levy Act
        1964-1976;

   (b)  amounts advanced out of the Consolidated Revenue Fund for the purposes
        of that Trust Account; and

   (c)  interest from the investment of moneys standing to the credit of that
        trust account.

''(2) Amounts payable into the National Cattle Disease Eradication Trust
Account by virtue of paragraph (1) (a) are payable out of the Consolidated
Revenue Fund, which is appropriated accordingly. Application of National
Cattle Disease Eradication Trust Account.
''10C. Moneys standing to the credit of the National Cattle Disease
Eradication Trust Account may, with the approval of the Minister, be expended-

   (a)  in making payments to the States, and in meeting costs incurred by the
        Commonwealth, for the purpose of the eradication of any disease of
        cattle that is endemic in Australia; and

   (b)  in making payments to the Consolidated Revenue Fund in respect of
        advances referred to in paragraph 10B (1) (b) or in respect of any
        expenses connected with the eradication of any disease of cattle that
        is endemic in Australia that have been defrayed out of that Fund.''.