New South Wales Consolidated Acts

ENVIRONMENTAL PLANNING AND ASSESSMENT ACT 1979 - SECT 7.31

7.31 SBC Fund

(1) There is established in the Special Deposits Account a fund called the Strategic Biodiversity Contributions Fund (
"SBC Fund" ).

(2) The SBC Fund must be administered by the Planning Secretary.

(3) The following must be paid into the SBC Fund--

(a) payments relating to a strategic biodiversity component of a housing and productivity contribution,

(b) money appropriated by Parliament for the purposes of the SBC Fund,

(c) the proceeds of the investment of money in the SBC Fund,

(d) other money required to be paid into the SBC Fund by or under this Act, the regulations or other legislation,

(e) money advanced by the Treasurer for the purposes of the SBC Fund.

(4) The assets of the SBC Fund may be applied only for the following purposes--

(a) payments to public authorities for the provision of regional infrastructure that is a measure referred to in section 7.25,

(b) money required to meet administrative expenses in relation to the SBC Fund,

(c) other money directed or authorised to be paid from the SBC Fund by this Act or the regulations,

(d) money to repay money advanced by the Treasurer under subsection (3)(e).

(5) A payment for the provision of regional infrastructure that is an approved conservation measure referred to in section 7.25(a)(i) must be made in accordance with the order specifying the approved conservation measure.

(6) The Planning Secretary may make a payment out of the SBC Fund, other than a repayment of money advanced by the Treasurer, only--

(a) with the approval of the Minister, and

(b) after consultation with the Treasurer.

(7) This section does not limit payments being made out of the HAP Fund to the Planning Secretary under section 7.31D.

(8) The money in the SBC Fund may be invested in a way that the Minister is permitted to invest money under the Government Sector Finance Act 2018 , Part 6.