Part 6 — Finance and Property Division 1 Finance
143 Application of funds
that is accumulated or acquired for the purpose of capital
expenditures must be used only for capital expenditures.
(2) Subject to subsections (3) and (4), any money of a board that is
accumulated or acquired for a capital expenditure by borrowing or
in any other manner must be used only for the capital expenditure
for which it was acquired.
(3) The Minister, on any conditions that the Minister prescribes,
(a) may permit a board, or
(b) may require a board
to use money referred to in subsection (1) or (2) for a particular
capital expenditure or a particular capital project or for any other
expenditure or project whether or not the expenditure or project is
one for which the money was accumulated or acquired.
(4) Notwithstanding subsections (1) and (2), a board may effect a
temporary transfer of capital funds for a period of not more than
365 days to an account for operating expenses and, on the transfer
of the capital funds, the funds may be applied during that period
toward operating expenses.
143.1 Repealed 2012 cE-0.3 s143.1.