Western Australian Numbered Acts

SWAN AND CANNING RIVERS MANAGEMENT ACT 2006 (NO. 51 OF 2006) - SECT 42

42 .         Swan River Trust Account

        (1)         The funds referred to in section 41 must be credited to an account called the “Swan River Trust Account” —

            (a)         forming part of the Trust Fund constituted under the Financial Administration and Audit Act 1985 section 9; or

            (b)         with the Treasurer’s approval, at a bank as defined in the Financial Administration and Audit Act 1985 section 3(1).

        (2)         All expenditure incurred by the Trust for the purposes of performing its functions under this Act, including the repayment of moneys borrowed by the Trust under section 45, is to be charged to the Account and moneys standing to the credit of that Account must be applied only for the purposes of this Act.