Western Australian Current Acts Western Australian Current Acts (1) The Commission
may, with the approval of the Minister and of the Treasurer, for the purpose
of developing and operating tourist facilities in Western Australia or
organizing and administering events and conventions —
(a)
participate in any business arrangement;
(b)
acquire, hold and dispose of shares, units or other interests in any business
arrangement; and
(c)
exercise any right conferred upon the Commission to appoint a director of, or
hold office in, a business arrangement.
(2) In subsection (1)
—
business arrangement means a proprietary limited
company, partnership or trust;
participate includes form, promote, establish,
enter into, manage, dissolve, wind up and do anything incidental to the doing
of any of those things.
(3) The Treasurer may,
on the recommendation of the Commission, execute a guarantee in favour of any
person for the purposes of this section.
(4) A guarantee under
subsection (3) may guarantee —
(a) the
payment of any moneys and interest thereon owing by any person;
(b) the
performance of an obligation undertaken by any person.
(5) The provisions of
section 27(5) shall apply to any guarantee under this section as if it were a
guarantee under section 27.
(6) The Treasurer is
hereby authorised to charge to the Consolidated Account, which to the
necessary extent is appropriated accordingly, any liability arising out of a
guarantee under this section and any money received or recovered by the
Treasurer from the Commission or otherwise in respect of any amount so charged
by the Treasurer shall be credited to the Consolidated Account.
[Section 15 amended: No. 98 of 1985 s. 3; No. 6 of
1993 s. 11; No. 68 of 1994 s. 15; No. 49 of 1996 s. 64; No. 77 of 2006 s. 4.]