Western Australian Consolidated Acts Western Australian Consolidated Acts (1) An agency special
purpose account called the Suitors’ Fund is established under
section 16 of the Financial Management Act 2006 .
(2) The following
shall be credited to the Fund —
(a) the
amounts referred to in section 6(2);
(b) any
other moneys lawfully received by, made available to, or payable to the Board.
(3) The amounts
referred to in sections 11, 14, 14A, 14B, and 15 and the cost of the
administration of this Act shall be charged to the Fund.
(4) All interest
derived from the investment of the Fund forms part of the Fund.
(5) The Fund is,
subject to this Act, under the direction, control and management of the Board.
(6) Where the Board
certifies in writing to the Treasurer that the amount of money standing to the
credit of the Fund is, for the time being, insufficient for the purposes of
this Act, the Board may borrow from the Treasurer such amounts as are
sufficient for the time being to make up the deficiency.
(7)(a) Any amount
advanced to the Fund pursuant to subsection (6) shall be subsequently
repaid to the Treasurer from moneys standing to the credit of the Fund by the
Board, when money is available to the Fund to make the repayment.
(b) The
amount of any money so advanced by the Treasurer to the Fund is, while the
money remains unpaid, a charge on the Fund.
(8) Where the Board
certifies in writing to the Treasurer that any money standing to the credit of
the Fund is not immediately required for the purposes of this Act the
Treasurer may temporarily invest so much of the money as he considers
practicable so to do, as trust funds may be invested under Part III of
the Trustees Act 1962 and shall cause all interest therefrom to be
credited to the Fund.
(9) The accounts
relating to the Fund shall be audited by the Auditor General.
[Section 4 amended by No. 44 of 1977
s. 3; No. 58 of 1984 s. 3; No. 98 of 1985 s. 3;
No. 49 of 1996 s. 64; No. 1 of 1997 s. 18; No. 28 of
2006 s. 47; No. 77 of 2006 Sch. 1 cl. 164(1) and (2).]