Establishment of the Community Enhancement Fund. (a) The Council must hold and apply all Monetary Contributions paid by the Company under this agreement in accordance with clause 5.2(b).
(b) The Council must invest all Monetary Contributions paid by the Company under this agreement in an interest bearing account held in the name of the Council for the purpose of the Community Enhancement Fund pursuant to the provisions of section 625 of the Local Government Act 1993 (NSW).
(c) The Council may disburse Monetary Contributions paid by the Company under this agreement to Approved Local Projects that propose to invest the disbursed money for the purposes of the Approved Local Project.
Establishment of the Community Enhancement Fund. (a) The Council must hold and apply all Monetary Contributions paid by the Company under this deed in accordance with clause 5.2(b).
(b) The Council must invest all Monetary Contributions paid by the Company under this deed in an interest bearing account held in the name of the Council for the purpose of the Community Enhancement Fund.
Establishment of the Community Enhancement Fund. (a) The Council must hold in trust and apply all Monetary Contributions paid by the Company under this Agreement in accordance with clause 5.2(a) and maintain proper accounting registers and records which are compliant with applicable auditing standards imposed by the Auditor appointed under clause 6.6.
(b) The Council must invest all Monetary Contributions paid by the Company under this Agreement in an interest-bearing account held in the name of the Council for the purpose of the Community Enhancement Fund in accordance with section 625 of the Local Government Act 1993 (NSW).
Establishment of the Community Enhancement Fund. (a) The Council must hold and apply all Monetary Contributions paid by the Company under this deed in accordance with clause 5.2(b).
(b) The Council must invest all Monetary Contributions paid by the Company under this deed in an interest bearing account held in the name of the Council for the purpose of the Community Enhancement Fund pursuant to the provisions of section 625 of the Local Government Xxx 0000.
(c) The Committee may disburse Monetary Contributions paid by the Company under this deed to Approved Local Projects that propose to invest the disbursed money for the purposes of the Approved Local Project.
(d) A proportion (not less than 20% of the Community Enhancement Fund) will be allocated to local education assistance. Monies not expended through the local education assistance in any given year shall be transferred to the Community Enhancement Fund for the following year.
