Bulk Handling Act Amendment Act 1972 (WA)

WESTERN AUSTRALIA.

BULK HANDLING.

No. 45 of 1972.

AN ACT to amend the Bulk Handling Act, 1967-1971 to empower the Treasurer to guarantee the repayment of moneys borrowed by Co-operative Bulk Handling Limited, and for purposes incidental thereto.

[Assented to 24th August, 1972J

RE it enacted by the Queen's Most Excellent

Majesty, by and with the advice and consent

of the Legislative Council and the Legislative

Assembly of Western Australia, in this present

Parliament assembled, and by the authority of the

same, as follows:-

1. (1) This Act may be cited as the Bulk Short title and citation

Handling Act Amendment Act, 1972.

(2) In this Act the Bulk Handling Act, 1967-1971 Act No. 15 of 7967 as

is referred to as the principal Act.	Act No. of
emended by

No. 45.1 Bulk Handling. [1972.

(3) The principal Act as amended by this Act may

be cited as the Bulk Handling Act, 1967-1972.

Section 50A

added.	2. The principal Act is amended by adding after the heading "PART VIII—MISCELLANEOUS." a section as follows-
Guarantees

by the	50A. (1) The Treasurer may, for and on
Treasurer

In respect	behalf of the Crown in right of the State,
of moneys
borrowed by	guarantee the repayment of any principal
the
Company.	moneys borrowed by the Company and interest thereon, whether those principal moneys were borrowed before or are borrowed after the commencement of this section.
(2) A guarantee given by the Treasurer pursuant to subsection (1) of this section may be given on such terms and conditions as the Treasurer thinks fit but any liability of the Crown in right of the State arising out of the guarantee shall be paid out of the moneys in the Public Account as defined in the Audit Act, 1904, which Account to the necessary extent, is hereby appropriated accordingly.
(3) Where any moneys are received or recovered by the Treasurer from the Company or any other person in respect of any moneys paid out of the Public Account pursuant to subsection (2) of this section, the moneys so received or so recovered shall be paid into that Account. .