Commonwealth Consolidated Acts

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NATIONAL RECONSTRUCTION FUND CORPORATION ACT 2023 - SECT 57

Application of the Corporation's money

  (1)   The Corporation's money consists of:

  (a)   money paid to the Corporation under subsection   55(2); and

  (b)   any other money received by the Corporation.

  (2)   The Corporation's money is to be applied only:

  (a)   in performing the Corporation's investment functions; and

  (b)   in exercising the Corporation's investment powers; and

  (c)   in paying or discharging the costs, expenses and other obligations incurred by the Corporation in the performance of the Corporation's functions; and

  (d)   in paying any remuneration and allowances payable to any person under this Act; and

  (e)   in making payments to the Commonwealth under section   58.

  (3)   Subsection   (2) does not prevent investment, under section   59 of the Public Governance, Performance and Accountability Act 2013 , of money that is not immediately required for the purposes of the Corporation.



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