s. 17 (b) in the repayment of money received from the Association and authorized depositors and interest thereon; (c) in the repayment of money borrowed by the Association pursuant to section 19 and interest thereon; and (d) in investments authorized by section 18. (2) The Association may apply any surplus in the Fund at the end of each financial year in the payment to each authorized depositor during that financial year of an amount calculated on a proportionate basis having regard to the value of deposits made by each authorized depositor and the period of time during which such deposits were held in the Fund. 17 Authorized depositors S. 17 inserted by No. 9866 The Association may accept money on deposit s. 2(c). from the following authorized depositors— (a) any council which is a member of the S. 17(a) amended by Association; and No. 12/1989 (Sch. 2 item 82.10). (b) any body constituted— (i) by or under the Local Government S. 17(b)(i) amended by Act 1989 for any public or local No. 12/1989 governing purpose; or (Sch. 2 item 82.11). (ii) for a joint purpose by councils or a S. 17(b)(ii) council and any other body— amended by No. 12/1989 (Sch. 2 item 82.12). and which body is declared by the Governor in Council on the recommendation of the Minister after consultation with the Treasurer
(b) in the repayment of money received from the Association and authorized depositors and interest thereon; (c) in the repayment of money borrowed by the Association pursuant to section 19 and interest thereon; and (d) in investments authorized by section 18. (2) The Association may apply any surplus in the Fund at the end of each financial year in the payment to each authorized depositor during that financial year of an amount calculated on a proportionate basis having regard to the value of deposits made by each authorized depositor and the period of time during which such deposits were held in the Fund. S. 17 inserted by No. 9866 s. 2(c). 17 Authorized depositors s. 17 The Association may accept money on deposit from the following authorized depositors— S. 17(a) amended by No. 12/1989 (Sch. 2 item 82.10). (a) any council which is a member of the Association; and (b) any body constituted— S. 17(b)(i) amended by No. 12/1989 (Sch. 2 item 82.11). (i) by or under the Local Government Act 1989 for any public or local governing purpose; or S. 17(b)(ii) amended by No. 12/1989 (Sch. 2 item 82.12). (ii) for a joint purpose by councils or a council and any other body— and which body is declared by the Governor in Council on the recommendation of the Minister after consultation with the Treasurer
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