Australian Capital Territory Numbered Acts

LIFETIME CARE AND SUPPORT (CATASTROPHIC INJURIES) ACT 2014 (NO. 11 OF 2014) - SECT 82

    (1)     An LTCS levy is taken to be—

        (a)     the amount paid as the levy; and

        (b)     any interest received on the investment of the amount, or any part of it, under this division.

    (2)     Interest received by the Territory on an investment under this division of an amount from an LTCS levy must be applied for the purposes for which the amount invested was appropriated.

    (3)     However, if an investment of an amount from an LTCS levy is made or managed by a directorate, the directorate may deduct from the interest received by the Territory for the investment a fee charged by the directorate for making or managing the investment.

    (4)     A fee charged by a directorate under subsection (3) must not be more than the costs and expenses incurred by the directorate in making or managing the investment.