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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 21 September 2018 - onwards
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915. Application of money received by Supervisory Authority

(1) Subject to subsection (3), the Supervisory Authority shall not use the money received by it under this Chapter except for the purpose of meeting expenses properly incurred by it in performing its functions under this Chapter.

(2) The Supervisory Authority may use money set aside for or paid into the reserve fund in accordance with section 919 only for the purpose of meeting expenses incurred by it in performing its functions under section 933 and may not use any other money received by it for that purpose.

(3) The Supervisory Authority may use money referred to in subsection (2) that comprises any part of any money paid to the Supervisory Authority pursuant to section 934C(2)(g) only for the purpose of meeting expenses incurred by it in undertaking an investigation under section 934.

Comparing proposed amendment...