Sydney Sports Ground and Sydney Cricket Ground Amalgamation (Amendment) Act 1972 (NSW)

SYDNEY SPORTS GROUND AND SYDNEY CRICKET GROUND AMALGAMATION (AMENDMENT) ACT.

ANNO VICESIMO PRIMO

ELIZABETHS II BEGINS

Act No. 80,1972.

A n A c t to au tho r i s e the t rus tees of the Sydney Spor t s

G r o u n d	a n d	Sydney	Cr icke t	G r o u n d	to	b o r r o w
m o n e y ;	to	au tho r i s e	the	T reasu re r	t o	g u a r a n t e e
the	r e p a y m e n t	of	m o n e y	b o r r o w e d	by	those

t ru s t ee s ; for these a n d o the r p u r p o s e s t o a m e n d

the Sydney Spor t s G r o u n d a n d Sydney Cr icke t

D e c e m b e r , 1972.] BE

G r o u n d	A m a l g a m a t i o n	Ac t ,	1951,	a n d	t h e
G o v e r n m e n t	G u a r a n t e e s	Ac t ,	1934;	a n d	for
pu rposes	connec t ed	therewi th .	[Assented	t o .	4 t h

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 : —

1.     This Act may be cited as the "Sydney Sports Ground

and Sydney Cricket Ground Amalgamation (Amendment)

Act, 1972".

2. The Sydney Sports Ground and Sydney Cricket Ground Amalgamation Act, 1951, is amended by inserting next after section 7 the following new section :—

7A. (1 ) The trustees of the land described in the Third Schedule may, with the approval of the Minister and the concurrence of the Treasurer, borrow money to expend in the exercise or performance of any power, authority, duty or function conferred or imposed upon them by or under this or any other Act as trustees of that land or of any other land.

(2) Security for the repayment of any money

borrowed pursuant to subsection (1) may be given over

investments made by the trustees.

( 3 ) The powers conferred by subsections (1)

and (2 ) are additional to, and do not derogate from, any other power conferred by or under this or any other

Act on the trustees.

1. The Government Guarantees Act, 1934, is amended

by inserting next after section 3 ( 5 F ) the following new
subsection :—

(5G ) It shall be lawful for the Treasurer, upon the recommendation of the Minister for Lands 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 "approved body") for the repayment of any money borrowed pursuant to section 7 A of the Sydney Sports Ground and Sydney Cricket Ground Amalgamation Act, 1951.

ULLADULLA

P 81871-41