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(Consolidated up to 24/2016)


Public Lands Act


Table of Contents

                1      Definitions

                2      Additional purposes of the Fund

                3      Investment of the Fund

                4      Transfers to the GRF


1   In this Regulation,

                               (a)    “Act” means the Public Lands Act;

                              (b)    “Fund” means the Land Stewardship Fund established under section 11.2 of the Act;

                               (c)    “Minister” means the Minister responsible for the Act.

AR 31/2011 s1;170/2012;24/2016

Additional purposes of the Fund

2   In addition to the purpose in section 11.2(2)(a) of the Act, the Fund may be used for the following:

                               (a)    to provide grants made by the Minister under the Environment Grant Regulation (AR 182/2000) to persons to be used

                                        (i)    to purchase an estate or interest in land for conservation purposes, or

                                      (ii)    to administer land used or to be used for conservation purposes;

                              (b)    to pay for expenses that are directly associated with the sale of public land referred to in section 11.2(3) of the Act;

                               (c)    to pay for non‑capital expenses that are directly associated with the purchase of any estate or interest in land and personal property under section 13 of the Act.

Investment of the Fund

3(1)  The Minister may be a participant under section 40 of the Financial Administration Act on behalf of the Fund.

(2)  Investment income accrues to and forms part of the Fund.

Transfers to the GRF

4(1)  The following shall be transferred from the Fund to the General Revenue Fund:

                               (a)    where the Minister has purchased an interest or estate in land and any personal property in conjunction with it under section 13 of the Act, an amount equivalent to the amount of the purchase;

                              (b)    an amount equivalent to any capital expenditure referred to in section 2(b).

(2)  If at the end of a fiscal year the amount in the Fund exceeds $150 000 000, the Minister shall transfer the amount of the excess into the General Revenue Fund.


5   Repealed AR 24/2016 s3.