Victorian Current Acts

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In this Part—

"constituting Act", in relation to a public authority, means the Act referred to in column 2 of Schedule 1 opposite the name of the public authority in column 1 of that Schedule;

"financial accommodation" means a financial benefit or assistance to obtain a financial benefit arising from or as a result of—

        (a)     a loan;

        (b)     issuing, endorsing or otherwise dealing in promissory notes;

        (c)     drawing, accepting, endorsing or otherwise dealing in bills of exchange;

        (d)     issuing, purchasing or otherwise dealing in securities;

        (e)     granting or taking a lease of any real or personal property for financing but not for operating purposes;

        (f)     in relation to a public authority, any other arrangement that the Governor in Council on the recommendation of the Treasurer has approved as financial accommodation in relation to the public authority under the Borrowing and Investment Powers Act 1987 ;

S. 36A def. of financial arrangement repealed by No. 100/1995 s. 10(1)(Sch. 1 item 7.2(a)).

    *     *     *     *     *

"financial obligation", in relation to a public authority, means the liability of the public authority in respect of—

        (a)     financial accommodation obtained by the public authority; or

        (b)     a financial arrangement entered into by the public authority

and includes the liability of the public authority in respect of inscribed stock issued by the public authority;

S. 36A def. of public authority amended. [1]

"public authority" means the Grain Elevators Board, Development Victoria, the Port of Geelong Authority, the Port of Portland Authority, the Port of Hastings Corporation, Ports Victoria, the Suburban Rail Loop Authority, Victorian Rail Track, V/Line Corporation, the Gas Transmission Corporation, GASCOR, the Melbourne Water Corporation, a company licensee within the meaning of Part 5 of the  Water Industry Act 1994 or the State Electricity Commission of Victoria or Generation Victoria, National Electricity, VENCorp, a public distribution company, public transmission company or public generation company within the meaning of the Electricity Industry (Residual Provisions) Act 1993 or a participating authority approved by the Treasurer for the purposes of this section;

"security" includes inscribed stock and debenture, bond, debenture stock, notes or any other document creating, evidencing or acknowledging indebtedness in respect of financial accommodation, whether or not constituting a charge on property of a public authority.

S. 36B inserted by No. 31/1993 s. 6.

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