Victorian Consolidated Legislation

EastLink Project Act 2004 - SECT 33

Security for payments to State under Agreement

33. Security for payments to State under Agreement



(1) This section applies to a mortgage, charge or other security given by a
person that includes a provision that secures, or purports to secure, payment
to the State of an amount that is, or may become due or payable to the State
by the person under, or in connection with, the Agreement (a security
provision).

(2) A security provision is not invalid by reason only of a law or rule of law
under which the provision would, but for this subsection, have been invalid or
unenforceable because the property secured under the mortgage, charge or other
security includes an amount that is, or may become, due and payable by the
State.

__________________