Victorian Current Acts Victorian Current ActsS. 16(1) amended by Nos 127/1993 s. 9(1), 11/2001 s. 3(Sch. item 48.2).
(1) For the temporary accommodation of the Authority it may, with the approval of the Treasurer, obtain advances by overdraft of current account with an authorised deposit-taking institution or institutions within the meaning of the Banking Act 1959 of the Commonwealth upon the credit of the Authority but so that the principal moneys owing on overdraft do not at any time exceed the amount for the time being specified by the Treasurer.
S. 16(2) amended by No. 127/1993 s. 9(1).
(2) The repayment of all moneys borrowed by the Authority in accordance with subsection (1) by way of overdraft and the payment of interest on those moneys is hereby guaranteed by the Government of Victoria.
(3) Moneys required by the Government of Victoria for fulfilling a guarantee referred to in subsection (2) shall be paid out of the Consolidated Fund (which is hereby to the necessary extent appropriated accordingly) and moneys received or recovered by the Government of Victoria in respect of moneys so paid shall be paid into the Consolidated Fund.
S. 17 amended by Nos 127/1993 s. 9(1),
68/1987
s. 40(a).