Victorian Current Acts

STATE OWNED ENTERPRISES ACT 1992 - SECT 47

    (1)     The capital of each State business corporation is equal to the sum of—

        (a)     the amount of the corporation's initial capital under this Act (in accordance with section 46(1));

        (b)     any part of the corporation's liabilities that is converted into capital at the direction of the Treasurer;

        (c)     any amounts paid to the corporation out of money appropriated by the Parliament for the purpose of providing capital; and

        (d)     any part of the corporation's reserves that is converted into capital at the direction of the Treasurer after consultation with the board—

less any amounts of capital repaid under section 48.

    (2)     Interest is not payable to the State on a State business corporation's capital.