Western Australian Current Acts

SWAN AND CANNING RIVERS MANAGEMENT ACT 2006 - SECT 143

143 .         Swan River Trust Account

        (1)         In this section —

        former account means the Swan River Trust Account referred to in section 42 of the former Act.

        (2)         On the commencement day, any moneys standing to the credit of the former account must be credited to an operating account of the Department, and the former account must then be closed.

        (3)         Moneys referred to in subsection (2) may be applied —

            (a)         in the payment of any liabilities of the former account arising before the commencement day; and

            (b)         for the purposes of this Act.

        (4)         The operating account referred to in subsection (2) must be credited with any moneys payable to the former account before the commencement day that are paid on or after that day.

        (5)         If in an agreement, instrument or other document there is a reference to the former account, that reference is, unless the context otherwise requires, to be read or to have effect from the commencement day as if it were a reference to the operating account referred to in subsection (2).

        [Section 143 inserted: No. 6 of 2015 s. 48.]