CO-OPERATIVE HOUSING SOCIETIES ACT 1958 - SECT 75 Aggregate liability under guarantees
CO-OPERATIVE HOUSING SOCIETIES ACT 1958 - SECT 75
Aggregate liability under guaranteesS. 75(1) amended by Nos 6446 s. 2 (as amended by No. 6489 s. 4(Sch. item 11)), 6687 s. 2 , 7030 s. 2, 7464 s. 2, 8298 s. 5, 9108 s. 2, 10/1989 s. 3, 30/1990 s. 3, 48/1992 s. 103.
(1) The Treasurer of Victoria shall not execute any guarantee under this Division of this Part where such guarantee would involve him in a liability which when added to the total liabilities subsisting in respect of other guarantees executed under this Division of this Part would in the aggregate exceed the amount of $1 000 000 000.
S. 75(2) amended by Nos 10087 s. 3(1)(Sch. 1 item 19), 74/2000 s. 3(Sch. 1 item 27).
(2) Such sums as may from time to time become due and payable by the Treasurer of Victoria under any guarantee authorized by this Division of this Part shall be paid out of the Consolidated Fund (which is hereby to the necessary extent appropriated accordingly).
S. 75A inserted by No. 9776 s. 2(b).