The Victoria Racing Club Act 1930 (Vic)

Version No. 001

The Victoria Racing Club Act 1930

Act No. 3875/1930

Version as at 3 March 2003

TABLE OF PROVISIONS

Section  Page

1.Short title, construction and citation

2.Amendment of The Victoria Racing Club Act 1871

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ENDNOTES

1.  General Information

2.  Table of Amendments

3.  Explanatory Details

Version No. 001

The Victoria Racing Club Act 1930

Act No. 3875/1930

Version as at 3 March 2003

An Act to amend Section Twenty-six of The Victoria Racing Club Act 1871 and for other purposes.

Preamble

WHEREAS by The Victoria Racing Club Act 1871 provision is made for the borrowing of moneys to be applied as provided in the said Act:

AND WHEREAS in order to enable The Victoria Racing Club to install any totalizator or totalizators in accordance with the Totalizator Act 1930 and to provide for the construction of the necessary buildings to be used in relation thereto it is expedient to amend the said first-mentioned Act as hereinafter provided:

AND WHEREAS it is expedient to authorize the investment of trust moneys of associations or funds formed or established by or under the control of the said club or the committee thereof in loans to the chairman thereof under section twenty-six of the said first-mentioned Act as amended hereby:

BE IT THEREFORE ENACTED by the King'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, construction and citation

This Act may be cited as The Victoria Racing Club Act 1930 and shall be read and construed as one with The Victoria Racing Club Act 1871 (hereinafter called the Principal Act) and the Act incorporated therewith which Acts and this Act may be cited together as the Victoria Racing Club Acts.

2.Amendment of The Victoria Racing Club Act 1871

(1)In section twenty-six of the Principal Act—

(a)for the words "Fifteen thousand pounds" there shall be substituted the words "One hundred thousand pounds"; and

(b)after the words "racing purposes" (where they occur for the second time) there shall be inserted the words "or in the installation of any totalizator or totalizators by the club in accordance with the Totalizator Act 1930 and the construction of the necessary buildings to be used in relation thereto."

(2)It shall be lawful for the committee of the club to lend or advance to the chairman pursuant to the provisions of section twenty-six of the Principal Act as amended by this Act any trust moneys to the credit of any association or fund heretofore or hereafter formed or established by or under the control of the committee or the club or any part of such moneys (unless the committee are forbidden so to do by the instrument under which they act) on the security of assignments by way of mortgage made by the chairman as provided by the Principal Act; and every such loan or advance made on such security shall be deemed a due investment of such trust moneys.

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ENDNOTES

1.     General Information

The Victoria Racing Club Act 1930 was assented to on 8 October 1930 and came into operation on 8 October 1930.

2.     Table of Amendments

There are no amendments made to The Victoria Racing Club Act 1930 by Acts and subordinate instruments.

3.     Explanatory Details

No entries at date of publication.