New Zealand Acts

MARITIME TRANSPORT ACT 1994 - SECT 330

330 New Zealand Oil Pollution Fund

1 The Authority shall establish and administer a fund to be known as the New Zealand Oil Pollution Fund.

2 The oil pollution levies payable under section 333 , and any other money that is lawfully payable to the Fund, shall be paid into the Fund.

3 All money payable to the Fund shall be paid to the credit of a bank account established under section 158(1) of the Crown Entities Act 2004 for the purpose.

4 The Authority shall invest the Fund in accordance with its investment powers, but subject to the restrictions in section 161 of the Crown Entities Act 2004 .

5 All income of the Fund shall be added to and form part of the Fund.

6 There may from time to time be paid out of the Fund any money that may lawfully be paid out of the Fund under this Act or any other enactment.

7 The financial statements of the Fund shall form part of the financial reports of the Authority.

History: Section 330(3): amended, on 25 January 2005, by section 200 of the Crown Entities Act 2004 (2004 No 115).   Section 330(4): amended, on 25 January 2005, by section 37(1) of the Public Finance Amendment Act 2004 (2004 No 113).