(1) The following accounts are hereby abolished:
(2) All bank accounts forming part of any of the accounts specified in subsection (1) on 1 July 1989 shall be deemed to form part of the Crown Bank Account.
(3) Notwithstanding subsection (2), all money held in an imprest account operated by a department on 1 July 1989 shall be transferred to and deemed part of a Departmental Bank Account opened and operated by that department.
(4) Notwithstanding subsection (2) all money held in the Public Account to the credit of the Trust Account which is trust money pursuant to section 66 at 1 July 1989 shall be transferred to a Trust Bank Account and dealt with in accordance with Part 7. Where money is held in the Trust Account on 30 June 1989 but it is uncertain whether such money is public money or trust money under this Act, then notwithstanding section 66, such money shall, at the discretion of the Minister, be deemed to be trust money until no later than 1 January 1990.
(5) Any investment of money relating to subsection (4) shall be deemed to be an investment of trust money under Part 7.
(6) Subject to subsections (3) and (4), all money that, if this section had not been passed, would be payable into or out of any of the accounts specified in subsection (1), shall be paid into or out of a Crown Bank Account.
(7) Every reference to any of the accounts specified in subsection (1) in any Act, regulation, order, agreement, deed, instruction, application, notice, or other document whatever shall, unless the context otherwise requires, be read as a reference to a Crown Bank Account.
Section 83(6): amended, on 25 January 2005, by section 28 of the Public Finance Amendment Act 2004 (2004 No 113).
Section 83(7): amended, on 25 January 2005, by section 28 of the Public Finance Amendment Act 2004 (2004 No 113).