Western Australian Repealed Acts

This legislation has been repealed.

WESTERN AUSTRALIAN PLANNING COMMISSION ACT 1985 - SECT 48

48 .         General borrowing by Commission

        (1)         Subject to subsection (2), the Commission may, with the prior approval in writing of the Treasurer and on such terms and conditions as he or she approves, borrow money for the performance by the Commission of its functions.

        (2)         Before the Treasurer may approve of the borrowing of money under subsection (1), a proposal in writing showing —

            (a)         the terms and particulars of the proposed loan;

            (b)         the rate of interest to be paid on that loan;

            (c)         the purpose to which the money borrowed is to be applied; and

            (d)         the manner in which the loan is to be repaid,

                shall first be submitted by the Commission on the recommendation of the Minister to, and approved by, the Treasurer.

        (3)         Any moneys borrowed by the Commission under this section may be raised as one loan or as several loans and in such manner as the Treasurer may approve, but the amount of money so borrowed shall not in any one year exceed in the aggregate such amounts as the Treasurer approves.

        (4)         For the purpose of making provision to repay either the whole or any part of any loan raised under this section the Commission may, subject to this section, borrow the moneys necessary for that purpose before the loan or part of it becomes payable.

        [Section 48 amended by No. 84 of 1994 s. 42.]