Victorian Current Acts Victorian Current ActsNo. 6284 s. 224A.
(1) Where—
(a) land of the Crown has been reserved pursuant to section 4; and
(b) the trustees or committee of management (as the case may be) of the land have, pursuant to the provisions of any Act, granted a lease of the land or any portion thereof to a body corporate for the purposes of sport or recreation or social activities or for purposes connected therewith; and
(c) the body corporate is desirous of obtaining a loan for the purpose of building or improving public amenities on the land—
the Treasurer, on the recommendation of the Minister, may execute in favour of any person a guarantee guaranteeing the repayment of any loan to be made to the body corporate for that purpose.
(2) The provisions of subsection (1) shall not apply in respect of a loan of an amount less than $100 000.
(3) A guarantee by the Treasurer pursuant to this section—
(a) shall be in such form and subject to such terms and conditions as he thinks fit; and
(b) may extend to any interest charges and expenses chargeable by the person making the loan and to the expenses of enforcing or obtaining or endeavouring to enforce or obtain repayment of the loan and payment of any such interest charges and expenses.
(4) Any moneys which may from time to time become payable by the Treasurer under any guarantee pursuant to this section shall be paid out of the Consolidated Fund which is hereby to the necessary extent appropriated accordingly.
Heading preceding s. 29A inserted by No. 9380 s. 2(b).
S. 29A inserted by No. 9380 s. 2(b).