Section 6C
Establishment of Civil Aviation Fund
ActIn forceProvision 14 of 64
Section 6C
(1)
There is hereby established a fund to be known as the Civil
Aviation Fund (hereinafter referred to as “the Fund”) which shall be controlled and operated by the Director General in accordance with this Part.
(2)
The monetary transaction of the civil aviation authority shall be processed through the Fund, and for this purpose the following new item is hereby incorporated into the Second Schedule to the Financial Procedure
Act 1957—
“Civil Aviation Fund.”.
(3)
On the establishment of the
Fund and notwithstanding subsection 9(6) of the Financial Procedure Act 1957, the balances in the
Trust Accounts in respect of the civil aviation authority except the
Development Fund Trust Account shall be paid to the Fund.