Government Guarantees (Sydney Cricket and Sports Ground) Amendment Act 1978 (NSW)

G O V E R N M E N T G U A R A N T E E S ( S Y D N E Y

CRICKET A N D SPORTS G R O U N D ) A M E N D -

M E N T A C T , 1 9 7 8 , N o . 6 2

ANNO VICESIMO SEPTIMO

ELIZABETHE II REGINE

Act N o . 6 2 , 1 9 7 8 .

An Act to amend the Government Guarantees Act, 1934, consequentially upon the enactment of the Sydney Cricket and Sports Ground Act, 1978. [Assented to, 6th April, 1978.]

BE it enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows :—

This Act may be cited as the "Government Guaran­

tees (Sydney Cricket and Sports Ground) Amendment Act,
1978".

1.

(1 ) This section and section 1 shall commence on the date of assent to this Act.

2.

(2 ) Except as provided in subsection ( 1 ) , this Act shall commence on the day appointed and notified under section 2 (2) of the Sydney Cricket and Sports Ground Act, 1978.

The Government Guarantees Act, 1934, is amended

by omitting section 3 (5G) and by inserting instead the
following subsection :—

3.

(5G) It shall be lawful for the Treasurer, upon the recommendation of the Minister for Sport and Recrea­ tion, and with the approval of the Governor, to execute a guarantee in favour of a bank or other body of persons, corporate or unincorporate, approved by the Treasurer (in this Act referred to as the "approved body") for the repayment of any money borrowed pursuant to section 24 of the Sydney Cricket and Sports Ground Act, 1978.

(1) Sections 1 and 3 of the Sydney Sports Ground

and Sydney Cricket Ground Amalgamation (Amendment)
Act, 1972, are repealed.

4.

(2) Section 6 of the Miscellaneous Acts (Adminis­
trative Changes) Amendment Act (No. 2 ) , 1975, is repealed.

5. Nothing in this Act affects any guarantee executed before the commencement of this section under the authority of section 3 (5G ) of the Government Guarantees Act, 1934, as in force before that commencement.