(1) In this section ¾

}account~ means an account ¾

(a) at the Treasury; or

(b) at a bank as defined in section 3(1) of the Financial Administration and Audit Act 1985.

(2) A port authority is to maintain one or more accounts.

(3) An account at the Treasury is to form part of the Trust Fund constituted under section 9 of the Financial Administration and Audit Act 1985.

(4) Money received by and expenditure of a port authority is to be credited to or paid from an account.