Commonwealth Numbered Acts

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TERRORISM INSURANCE ACT 2003 No. 43, 2003 - SECT 34

Application of money
(1)
The Corporation's money is to be applied only:

(a) in payment or discharge of the expenses, charges, obligations and liabilities incurred or undertaken by the Corporation in the performance of its functions and the exercise of its powers; and
(b) in payment of remuneration and allowances payable under this Act.

(2)
Subsection (1) does not prevent investment of surplus money of the Corporation under Division 3 of Part 3 of the Commonwealth Authorities and Companies Act 1997 .



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