Western Australian Consolidated Acts Western Australian Consolidated Acts (1) The funds
necessary for the effectual execution of this Act shall be such moneys as
are from time to time appropriated by Parliament and such moneys as the
Authority may borrow or lawfully receive under and subject to the provisions
of this Act.
(2) All such moneys
are —
(a) to
be credited to an agency special purpose account called the Housing Authority
Account established under section 16 of the Financial Management
Act 2006 ; and
(b) to
be applied to the purposes of this Act.
(3)
Subsection (2) does not affect the operation of any provision of a
Commonwealth Housing Act or a Housing Agreement, within the meaning of
Part V of this Act, requiring separate accounts to be kept in respect of
moneys received and transactions entered into in accordance with that
Act or Agreement.
(4) The interest on
and contributions, at a rate to be fixed by the Treasurer, to the sinking fund
for the redemption of moneys appropriated by Parliament to the purposes of
this Act from the Consolidated Account shall be paid by the Authority to
the Treasurer from the Account half-yearly and shall be applied by the
Treasurer to recoup the Consolidated Account in respect of such interest and
contributions.
(5) Where a sinking
fund is created for the redemption of moneys borrowed by the Authority under
section 63, the Authority shall, from moneys standing to the credit of
the Account —
(a) pay
the interest on those moneys; and
(b) set
aside contributions to that sinking fund at a rate to be fixed by the
Treasurer.
(6) Where moneys
borrowed by the Authority under section 63 are repayable by instalments,
periodical instalments of principal and interest shall be paid by the
Authority from moneys standing to the credit of the Account.
(7) Moneys to the
credit of a sinking fund created for the purpose of the redemption of moneys
borrowed by the Authority under section 63 shall, until such time as they
are required for that purpose, be invested by the Treasurer in such securities
as he may think fit.
(8) Moneys to the
credit of the Account not immediately required for the purposes of this
Act may be invested by the Treasurer on behalf of the Authority in such
securities as he may think fit.
[Section 62 amended by No. 6 of 1993
s. 11 and 14(3); No. 49 of 1996 s. 64; No. 28 of 2006
s. 330 and 332; No. 77 of 2006 s. 4 and Sch. 1
cl. 87(5) and (6); No. 46 of 2009 s. 17.]