Document ID: chunk:federal_register_of_legislation:C2014C00604:clause:2_33
Version: federal_register_of_legislation:C2014C00604
Segment Type: clause
Provision Reference: sch 2 cl 33
Character Range: 101573–103233

33  Application of money transferred from Grape and Wine Research and Development Corporation etc.

Protected money and protected investments
(1) For the purposes of this item:
 (a) if, at the transition time, money of the Grape and Wine Research and Development Corporation becomes money of the Australian Grape and Wine Authority, the money is protected money; and
 (b) if, at the transition time, an investment of the Grape and Wine Research and Development Corporation becomes an investment of the Australian Grape and Wine Authority, the investment is a protected investment.
Note: See item 13 in relation to transfer of assets.

Application of protected money and protected investments etc.
(2) After the transition time, the Australian Grape and Wine Authority may apply:
 (a) protected money; or
 (b) money that is derived from a protected investment; or
 (c) money that represents the proceeds of the realisation of a protected investment; or
 (d) money that is attributable, directly or indirectly, to money covered by paragraph (a), (b) or (c);
only for the purposes mentioned in subsection 35(1A) of the Australian Grape and Wine Authority Act 2013 (as amended by Schedule 1 to this Act).
(3) Subitem (2) does not prevent:
 (a) the investment of surplus money of the Australian Grape and Wine Authority under section 19 of the Commonwealth Authorities and Companies Act 1997; or
 (aa) the investment, under section 59 of the Public Governance, Performance and Accountability Act 2013, of money that is not immediately required for the purposes of the Australian Grape and Wine Authority; or
 (b) the reinvestment of the proceeds of an investment.