Document ID: chunk:federal_register_of_legislation:C2007C00447:clause:1_81
Version: federal_register_of_legislation:C2007C00447
Segment Type: clause
Provision Reference: sch 1 cl 81
Character Range: 75367–76105

81  Subsection 35(1)
Repeal the subsection, substitute:

 (1) A Land Council must spend the following amounts in meeting its administrative costs or capital costs, in accordance with section 34, in the financial year in which the amounts are received or in the next financial year:
 (a) money paid to the Council under subsection 64(1);
 (b) fees the Council receives under section 33A;
 (c) other income the Council receives in relation to performing functions or exercising powers under this Act.

 (1A) Paragraph (1)(c) does not apply to:
 (a) a payment made to a Land Council as mentioned in subsection (2), (3), (4) or (4B); or
 (b) interest received by a Land Council as mentioned in subsection (11) in relation to such a payment.