Commonwealth Consolidated Acts

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AUSTRALIAN HEARING SERVICES ACT 1991 - SECT 60

Trust money

    The Authority:

  (a)   may receive money from any body or person on trust for application towards a particular purpose consistent with the functions of the Authority; and

  (b)   must pay trust money into an account or accounts containing no money other than trust money; and

  (c)   must apply or deal with trust money only in accordance with the powers and duties of the Authority as trustee; and

  (d)   may only invest trust money:

  (i)   in any manner in which the Authority is authorised to invest the money by the terms of the trust; or

  (ii)   in any manner in which trust money may be lawfully invested.



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