Document ID: chunk:federal_register_of_legislation:C2007A00074:clause:1_135
Version: federal_register_of_legislation:C2007A00074
Segment Type: clause
Provision Reference: sch 1 cl 135
Character Range: 6505–7453

135  Purpose of the Account

 (1) This section sets out the purposes of the Account.

 (2) Amounts standing to the credit of the Account may be debited for the following purposes:
 (a) the purpose of subsection 1341(1) of the Corporations Act 2001;
 (b) in payment to a person under paragraph 1341(2)(c) of the Corporations Act 2001;
 (c) to meet the expenses of administering the Account;
 (d) in respect of amounts credited under paragraph 134(c) of this Act—in payment in relation to proposals determined by the Minister to reduce business costs and improve regulation in one or more of the following areas:
 (i) corporate governance of managed investment schemes and bodies corporate;
 (ii) securities;
 (iii) financial products;
 (iv) winding up and external administration of managed investment schemes and bodies corporate.

Note: See section 21 of the Financial Management and Accountability Act 1997.

Division 2—Reporting requirements