Western Australian Current Acts Western Australian Current Acts (1) If there is an
inconsistency between this Act and a written law by or under which an
authority is constituted or is empowered to borrow moneys, this Act prevails
to the extent of that inconsistency.
(2) An authority may,
notwithstanding anything in a written law referred to in subsection (1)
—
(a)
borrow amounts lent to it by the Corporation under section 14(2) instead of
borrowing moneys in accordance with that written law;
(aa)
provide security to the Corporation, in such manner and in such form and on
such terms and conditions as the Corporation requires, for the purpose of
securing amounts lent to the authority by the Corporation under section 14(2),
the payment of interest on those amounts and the payment of —
(i)
such fees as are required to be paid under section 14(2);
and
(ii)
any other moneys payable,
in connection with
that lending; and
(b) do
or suffer all things necessary or convenient for giving effect to this Act.
(3) An authority
shall, notwithstanding anything in a written law referred to in subsection (1)
—
(a)
permit the Corporation, within the State or elsewhere, to establish and
conduct, or to arrange for the establishment and conduct of, registries,
marking facilities, agencies and other offices for dealing in debt paper
created by the authority;
(b) if
the Corporation establishes, or arranges for the establishment of, any
registry, marking facility, agency or other office for dealing in debt paper
created by the authority, cause any such office formerly maintained by or on
behalf of the authority to be discontinued and furnish to the Corporation on
request all accounts, books, records, documents, papers, information and other
things formerly pertaining thereto; and
(c) if
the surrender of any debt paper created by the authority is accepted by the
Corporation under an agreement made under section 10(4), on request by the
Corporation cause that debt paper to be cancelled.
[Section 4 amended: No. 24 of 1992 s. 5.]