New South Wales Consolidated Acts New South Wales Consolidated Acts(cf s 93 MAA)
(1) There is established a fund, to be known as the Motor Accidents Operational Fund, belonging to and vested in the Authority.
(2) The following is to be paid into the Fund--(a) money contributed under this Part by persons to whom third-party policies are issued,(b) the interest from time to time accruing from the investment of the Fund,(c) money required to be paid into the Fund by or under this or any other Act,(d) all other money received by the Authority and not otherwise appropriated.
(3) The following is to be paid from the Fund--(a) the remuneration, allowances, office accommodation and other associated costs of the Board of the Authority and the members of staff of the Authority to the extent that those costs relate to the administration of this Act,(c) the costs associated with the establishment and operation of the Motor Accidents Division of the Commission arising from this Act (including the expenditure incurred by the Commission in providing medical assessments and reviews of medical assessment under this Act),(c1) expenditure incurred by the Authority pursuant to any bulk billing arrangement under section 54,(c2) expenditure incurred by the Authority pursuant to any arrangements under section 215A (Payment of workers compensation indemnity on behalf of insurers),(c3) the remuneration of the Independent Review Officer (within the meaning of the Personal Injury Commission Act 2020 ) and staff of the Independent Review Officer and costs incurred in connection with the exercise of the functions of the Independent Review Officer arising under this Act,(d) all payments required to meet expenditure incurred in relation to the functions of the Authority, where money is not otherwise provided for that purpose,(e) all other money required by or under this or any other Act to be paid from the Fund.
(4) The Authority may invest money in the Fund that is not immediately required for the purposes of the Fund--(a) if the Authority is a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018 --in any way that the Authority is permitted to invest money under that Part, or(b) if the Authority is not a GSF agency for the purposes of Part 6 of the Government Sector Finance Act 2018 --in any way approved by the Minister with the concurrence of the Treasurer.