New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The national land transport fund is the cumulative balance of—
(a) the inflows specified in subsection (2), less any expenses and capital expenditure and repayment items of the type outlined in subsection (3) that have been accrued at any point in time; and
(b) the proceeds of any borrowing undertaken for the purpose of managing cashflow for the national land transport programme by—
(i) the Agency, in accordance with section 162 of the Crown Entities Act 2004; or
(ii) the Crown, in accordance with subpart 1 of Part 6 of the Public Finance Act 1989.
(2) The inflows of the national land transport fund are—
(a) land transport revenue, less any expenses or capital expenditure incurred under section 9(1):
(b) any revenue received by the Agency for the management of Crown land, including leases and licences:
(c) any proceeds from the sale of land held or acquired for the purposes of a State highway or any proposed State highway:
(d) any interest earned by the Agency from the investment of cash from the moneys referred to in paragraphs (a) to (c):
(e) any other public money provided to meet expenses or capital expenditure, incurred or to be incurred in accordance with an appropriation or other authority by or under an Act in respect of approved activities or combinations of activities of a type described in subsection (3).
(3) The national land transport fund must be used to pay for—
(a) Police activities or combinations of Police activities approved under section 18L:
(b) activities or combinations of activities (including those relating to State highways) approved under section 20 for which the Agency is responsible for delivery or managing delivery:
(c) regional councils’ activities or combinations of activities approved under section 20:
(d) territorial authorities’ activities or combinations of activities approved under section 20 (other than public transport services activities):
(e) regional and territorial authorities’ activities or combinations of activities approved under section 20 that have been authorised by a transfer of responsibility under section 17 of the Local Government Act 2002:
(f) approved public organisations’ activities or combinations of activities approved under section 20:
(g) expenses resulting from, and repayment of, any borrowing in accordance with subsection (1)(b).
(4) A local authority whose activities or combinations of activities are included in a regional land transport programme approved by ARTA is not entitled to receive funds directly from the Agency.
(5) ARTA must, as soon as practicable and at no cost to the local authority, pay to an Auckland local authority the funds received by ARTA from the Agency for approved activities or combinations of activities to be carried out by the local authority.
(6) Despite subsection (4), the Auckland Regional Council may receive funds directly from the Agency in respect of activities or combinations of activities approved under section 20 in respect of the preparation (including consultation) and approval of a regional land transport strategy for the Auckland Region.
Section 10: substituted, on 1 August 2008, by section 14 of the Land Transport Management Amendment Act 2008 (2008 No 47).