Victorian Current Acts Victorian Current Acts(1) There shall be established in the Trust Fund an account to be known as the "Industry Supervision Fund".
(2) There shall be paid into the Industry Supervision Fund—
(a) out of the Supervision Fund under the Financial Institutions (Victoria) Act 1992 at such time or times as are determined by the Minister—
(i) such part of the amount standing to the credit of that Fund as VicFIC determines represents the amount of supervision levy paid into that Fund under the Co-operative Housing Societies Act 1958 before the commencement of item 8 of Part 1 of Schedule 2 and unexpended; and
(ii) such part of the amount standing to the credit of that Fund as the Minister determines but not including any amounts received as supervision levy under the Financial Institutions (Victoria) Act 1992 , the Friendly Societies Act 1986 , the Friendly Societies Code or the Co-operative Housing Societies Act 1958 ;
(b) the amounts received as supervision levy under the Co-operative Housing Societies Act 1958 on or after the commencement of item 8 of Part 1 of Schedule 2;
(c) any income from the investment of money standing to the credit of the Industry Supervision Fund and the proceeds of sale of any investment;
(d) any other money approved by the Treasurer.
(3) There shall be paid out of the Industry Supervision Fund—
S. 17(3)(a) amended by Nos 74/2000 s. 3(Sch. 1 item 47.2), 17/2001 s. 5.
(a) expenses incurred in the administration of the Trustee Companies Act 1984 , the Co-operative Housing Societies Act 1958 and the Industrial and Provident Societies Act 1958 ;
(b) expenses incurred in administering the Industry Supervision Fund;
(c) any other amounts authorised under this or any other Act to be paid out of the Industry Supervision Fund.
(4) Money standing to the credit of the Industry Supervision Fund may be invested in any manner in which trust funds may be invested under the Trustee Act 1958 .