Commonwealth Numbered Acts

AUSTRALIAN MEAT AND LIVE-STOCK CORPORATION ACT 1977 No. 67 of 1977 - SECT 37

37. (1) Subject to sub-section (2), the moneys of the Corporation may be
applied only-

   (a)  in payment or discharge of the expenses, charges, obligations and
        liabilities incurred or undertaken by the Corporation in or in
        connexion with the performance of its functions, or the exercise of
        its powers, under this Act;

   (b)  in payment of any remuneration or allowances, or reimbursement of
        expenses, payable under this Act;

   (c)  in satisfaction or payment of any liabilities, costs, charges or
        expenses incurred by the Board under the Acts repealed by sub-section
        3 (1) before the commencing date but not satisfied or paid before that
        date; and

   (d)  in making any other payments that the Corporation is authorized or
        required to make under this Act.

(2) Moneys of the Corporation not immediately required for the purposes of the
Corporation may be invested-

   (a)  in securities of, or guaranteed by, the Commonwealth or a State;

   (b)  on deposit with an approved bank; or

   (c)  in any other manner approved by the Treasurer.