Queensland Consolidated Acts

QUEENSLAND BUILDING AND CONSTRUCTION COMMISSION ACT 1991 - SECT 25

25 General Statutory Fund

(1) A fund called the General Statutory Fund is established.

(2) The fund consists of—

(a) the balance of the Builders’ Registration Board General Fund as at the commencement of this section; and

(b) any money received or recovered by the commission except in connection with the insurance scheme; and

(c) all amounts transferred from the Insurance Fund under section 26 .

(3) The following amounts are to be paid from the fund—

(a) costs of administering this Act, apart from the costs of administering the statutory insurance scheme;

(b) amounts mentioned in subsection (4A) .

(4) A regulation may state a single amount that is to be transferred from the fund to the Insurance Fund.

(4A) The commission must, at times decided by the commission, transfer amounts from the fund to the Insurance Fund in payment of the single amount stated in the regulation made under subsection (4) .

(5) The commission may apply any amount surplus to the commission’s budgetary requirements for a particular financial year to encourage or assist education or research related to the building industry.