Victorian Current Acts

PORT MANAGEMENT ACT 1995 - SECT 173

In the case of any obligations or rights of VCA under section 36D or 36E of the Treasury Corporation of Victoria Act 1992 , that have been allocated under an allocation statement under this Division—

        (a)     the new corporation must pay to the Treasury Corporation of Victoria such amounts, and at such times, as VCA would have been liable to pay in respect of those financial obligations, if the Order under section 36D or 36E (as the case requires) had not been made, except so far as the Treasury Corporation of Victoria and the new corporation otherwise agree; and

        (b)     the Treasury Corporation of Victoria must pay to the new corporation those amounts, and at those times, as VCA would have been entitled to receive in respect of those financial obligations if the Order under section 36D or 36E (as the case requires) had not been made, except in so far as the Treasury Corporation of Victoria and the new corporation otherwise agree.

Division 3—Staff and other matters

New s. 174 inserted by No. 23/2003 s. 24.