Commonwealth Numbered Acts

PETROLEUM AND MINERALS AUTHORITY ACT 1973 No. 43, 1974 - SECT 35

35. (1) The moneys of the Authority may be applied by the Authority-

   (a)  in payment or discharge of the costs, expenses and other obligations
        of the Authority; and

   (b)  in payment of remuneration and allowances payable to any person under
        this Act, but not otherwise.

(2) Moneys of the Authority not immediately required for the purposes of the
Authority may be invested-

   (a)  on fixed deposit with an approved bank;

   (b)  in securities of Australia; or

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