Fishery Harbour Centres Act, 1968
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The Fishery Harbour Centres Fund. |
9.—(1) The Minister shall establish, maintain and manage in accordance with this section a fund (in this Act referred to as the Fund) to be known as the Fishery Harbour Centres Fund. | |
(2) The following provisions shall apply in relation to the Fund: | ||
(a) there shall be paid into the Fund all moneys received by or on behalf of the Minister in respect of rates, tolls or other charges paid under section 4 (2) (b) of this Act and all moneys received by or on behalf of the Minister in the exercise of the powers conferred on him by section 5 of this Act and any other moneys received by or on behalf of the Minister under or for the purposes of this Act, and | ||
(b) there shall be paid out of the Fund all outlay and expenditure incurred by the Minister under subsections (2), (3) or (4) of section 2 or sections 3 , 4 , 5 or 6 of this Act or incurred in the exercise of a power, function or duty of the Minister under section 3 (9) or 4 (4) of this Act, | ||
(c) so much of the Fund as, in the opinion of the Minister, is for the time being not immediately required for the making of payments under paragraph (b) of this subsection may be invested by the Minister in securities in which trustees are for the time being authorised by law to invest trust funds, | ||
(d) the Minister may from time to time at his discretion vary or sell any investments authorised by this subsection, | ||
(e) all dividends and interest received by the Minister on investments (being part of the Fund) made by him under this subsection and the proceeds of the sale of any such investments shall be paid into the Fund. |