New South Wales Consolidated Acts

ENVIRONMENTAL PLANNING AND ASSESSMENT ACT 1979 - SECT 7.31A

7.31A Establishment of HAP Fund

(1) There is established in the Special Deposits Account a fund called the Housing and Productivity Fund (
"HAP Fund" ).

(2) Different accounts must be established in the HAP Fund to ensure--

(a) housing and productivity contributions from development on land in a region, and proceeds from the investment of the contributions, are expended in the region as required by Subdivision 4, and

(b) the transport project component from development on land in an area, and proceeds from the investment of the component, are expended for the benefit of the area.

(3) The HAP Fund must be administered by the Treasury Secretary.