Western Australian Current Acts Western Australian Current Acts (1) If at any time the
funds of the Commission are not sufficient for the purpose of defraying the
costs, charges and expenses incurred by it in the exercise of its powers and
functions under this Act, the Commission may borrow from the Treasurer, or
from a bank approved by the Treasurer, moneys for that purpose.
(2) The Commission
shall pay to the Treasurer on moneys borrowed by it from him under this
section, interest at such rate and at such times as the Treasurer determines.
(3) The amount of
moneys borrowed by the Commission under this section that remains from time to
time unpaid, and any interest thereon that is unpaid, is a charge upon the
moneys from time to time standing to the credit of the account of the
Commission at the Treasury or in any account of the Commission at any bank,
and upon any assets vested in the Commission, and the due repayment of that
amount and the payment of such interest is hereby guaranteed by the Treasurer
in the name and on behalf of the Crown in right of the State.
[Section 26 amended: No. 98 of 1985 s. 3.]