Western Australian Current Acts

DIAMOND (ARGYLE DIAMOND MINES JOINT VENTURE) AGREEMENT ACT 1981 - SECT 5

5 .         Money Lenders Act 1912 not to apply

        (1)         Subject to subsection (2), the Money Lenders Act 1912 ³ does not apply to or in relation to any loan made, before the termination date as defined in section 6(1), to or by a party to the Agreement, or to or in relation to any contract or security relating to such a loan.

        (2)         Subsection (1) does not prevent the application of the Money Lenders Act 1912 ³ to or in relation to a loan made by a party to the Agreement to a person who is not a party to the Agreement, or to or in relation to any contract or security relating to such a loan, unless the loan is made for the purposes of, or for purposes incidental to, the implementation of the Agreement.

        (3)         In this section —

        loan has the meaning given to that expression by section 2 of the Money Lenders Act 1912 ³ ;

        party to the Agreement means the Joint Venturers, or any of them, or CRA Limited, a company incorporated in Victoria.

        [Section 5 amended: No. 12 of 1983 s. 5.]