Document ID: chunk:federal_register_of_legislation:C2004A01717:body:0:p4
Version: federal_register_of_legislation:C2004A01717
Segment Type: other
Provision Reference: 
Character Range: 7370–10109

(b) amounts payable by the Commonwealth under sub-section (2) of section 36 to persons appearing to the Minister to be entitled to receive the amounts.".
12. After section 41 of the Principal Act the following sections are inserted in Part VII:—

Payments payable to two accounts.
"42. Where—
     (a) a payment is made to the Corporation; and
     (b) in accordance with this Act, the payment is required to be credited in part to the Defence Service Homes Trust Account and in part to the Defence Service Homes Insurance Trust Account,
the whole of the payment shall be credited to the Defence Service Homes Trust Account and an amount equal to that part of the payment that, but for this section, would be required to be credited to the Defence Service Homes Insurance Trust Account, shall be paid to that Account out of the Defence Service Homes Trust Account.

Capital of Corporation.
"42a. The capital of the Corporation at any time is the sum of—
     (a) the amount of the capital of the Corporation under section 38 of the Defence Service Homes Corporation Act 1976 immediately before the commencement of this section; and
     (b) amounts credited to the Defence Service Homes Trust Account in accordance with paragraph (a) of sub-section (1) of section 39a, being amounts paid to the Corporation out of moneys appropriated by the Parliament for the purpose of providing capital for the Corporation,
less the sum of any amounts of capital repaid to the Commonwealth by the Corporation after the commencement of this section.

Payments to the Commonwealth.
"42b. (1) Interest is payable to the Commonwealth on the capital of the Corporation at such rates of interest and at such times as the Treasurer determines.
"(2) Capital of the Corporation is repayable to the Commonwealth at such times and in such amounts (if any) as the Minister determines.
"(3) In the making of a determination under sub-section (2), the Minister shall have regard to any advice that the Secretary, on behalf of the Corporation, furnishes to him in relation to the financial affairs of the Corporation.

Proper accounts to be kept.
"42c. The Corporation shall keep proper accounts and financial records in relation to its operations under this Act in accordance with generally accepted accounting principles and shall do all things necessary to ensure that all payments out of the moneys of the Commonwealth are properly authorized and correctly made and that adequate control is maintained over the moneys and over property of the Commonwealth or of the Corporation and the incurring of liabilities by the Corporation.

Audit.
"42d. (1) The Auditor-General shall inspect and audit the accounts and records kept in accordance with section 42c and shall