Queen Victoria Medical Centre (Guarantees) Act 1982 (Vic)

Version No. 001

Queen Victoria Medical Centre (Guarantees) Act 1982

Act No. 9836/1982

Version as at 26 February 2003

TABLE OF PROVISIONS

Section  Page

1.Short title and commencement

2.Definitions

3.Power to Treasurer to give guarantees

4.Standing appropriation

5.Evidentiary provision

6.Notice of guarantees to be published

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ENDNOTES

1.  General Information

2.  Table of Amendments

3.  Explanatory Details

Version No. 001

Queen Victoria Medical Centre (Guarantees) Act 1982

Act No. 9836/1982

Version as at 26 February 2003

An Act to authorize the Treasurer of Victoria to give certain Guarantees for and in connexion with the construction of a Medical Centre at Clayton to be known as the Queen Victoria Medical Centre.

BE 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 Victoria in this present Parliament assembled and by the authority of the same as follows (that is to say):

1.Short title and commencement

(1)This Act may be cited as the Queen Victoria Medical Centre (Guarantees) Act 1982.

(2)This Act shall come into operation on the day on which it receives the Royal Assent.

2.Definitions

In this Act unless inconsistent with the context or subject-matter—

"Centre" means the Medical Centre to be constructed in Clayton on the land more particularly described in certificate of title volume 9181 folio 129 and which is to be named the Queen Victoria Medical Centre;

"construction" includes planning, erection and outfitting;

"Development Authority" in relation to the Centre means any person or body corporate or unincorporate which is for the time being responsible for arranging the construction and financing of the Centre.

3.Power to Treasurer to give guarantees

(1)The Treasurer may with the approval of the Governor in Council alone or jointly with any other persons or body execute in favour of any person or body corporate or unincorporate a guarantee guaranteeing the repayment or satisfaction of any advances or financial accommodation to be made or given by that person to the Development Authority.

(2)The Treasurer may with the approval of the Governor in Council execute a guarantee in favour of any person guaranteeing the due performance of any obligation of the Development Authority under any contract to be entered into by the Development Authority with that person which is for or relates to the construction of the Centre.

(3)The guarantee by the Treasurer pursuant to sub-section (1) or (2)—

(a)shall be in such form and subject to such terms and conditions as he thinks fit;

(b)may extend to any interest charges and expenses chargeable by the person making or giving the advances or financial accommodation or contracting with the Development Authority and the expenses of enforcing or obtaining or endeavouring to enforce or obtain repayment or satisfaction of the advances or financial accommodation guaranteed and such interest charges and expenses.

(4)No person or body having the benefit of a guarantee issued pursuant to this Act shall assign or encumber the benefit of that guarantee without the consent in writing of the Treasurer.

(5)The Treasurer of Victoria shall not execute any guarantee under this Act where such guarantee would involve him in a liability in respect of the principal amount guaranteed which would when added to the total liabilities subsisting in respect of other guarantees of principal executed under this Part would in the aggregate exceed the amount of $150 000 000.

4.Standing appropriation

The Treasurer is hereby authorized to pay out of the Consolidated Fund, which is hereby to the necessary extent appropriated accordingly, any amount required to satisfy a liability under a guarantee issued under this Act and any moneys received or recovered by the Treasurer in respect of any moneys so paid by the Treasurer shall be paid into the Consolidated Fund.

5.Evidentiary provision

The execution by the Treasurer either alone or jointly with some other person of a guarantee expressed to be given under this Act shall be conclusive evidence that the requirements of this Act with respect to the guarantee have been complied with.

6.Notice of guarantees to be published

(1)The Treasurer shall forthwith upon the execution of a guarantee expressed to be given under this Act cause notice of the giving of the guarantee to be published in the Government Gazette.

(2)A notice under sub-section (1) shall specify the amount of the contingent liability of principal under the guarantee and the name of the person in whose favour the guarantee was given.

(3)A copy of the notice published under sub-section (1) shall be laid before each House of the Parliament on or before the sixth sitting day of the House after the notice has been published in the Government Gazette.

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ENDNOTES

1.     General Information

The Queen Victoria Medical Centre (Guarantees) Act 1982 was assented to on 21 December 1982 and came into operation on 21 December 1982: section 1(2).

2.     Table of Amendments

There are no amendments made to the Queen Victoria Medical Centre (Guarantees) Act 1982 by Acts and subordinate instruments.

3.     Explanatory Details

No entries at date of publication.