Victorian Current Acts Victorian Current ActsS. 64O(1) amended by No. 49/2019 s. 76(a).
(1) The Head, Transport for Victoria may, with the approval of the Secretary, obtain financial accommodation by way of overdraft of account at any authorised deposit-taking institution within the meaning of the Banking Act 1959 of the Commonwealth or other financial institution in Australia.
(2) The Secretary must not give approval under subsection (1) unless the Secretary has obtained the agreement of the Minister and the Treasurer to the proposed financial accommodation.
(3) The due repayment or satisfaction of any advances or financial accommodation obtained under this section and the due repayment of any interest or other charges payable in relation thereto is hereby guaranteed by the Government of Victoria.
(4) Any money required by the Minister administering Part 7 of the Financial Management Act 1994 for fulfilling any guarantee given by this section must be paid out of the Consolidated Fund which is hereby to the necessary extent appropriated accordingly.
S. 64O(5) amended by No. 49/2019 s. 76(b).
(5) Any money received or recovered by the Minister administering Part 7 of the Financial Management Act 1994 from the Head, Transport for Victoria or otherwise in respect of any money paid by that Minister under subsection (4) must be paid into the Consolidated Fund.
S. 64P inserted by No. 3/2017 s. 3.