Victorian Consolidated Legislation

House Contracts Guarantee Act 1987 - SECT 17E

Powers of VMIA in relation to the Housing Guarantee Claims Fund

17E. Powers of VMIA in relation to the Housing Guarantee Claims Fund



(1) VMIA may invest any part of the Housing Guarantee Claims Fund that is not
immediately required for the purposes of the Fund in any manner approved by
the Treasurer.

(2) Despite subsection (1), VMIA may continue any investment of funds of HGFL
existing immediately before the appointed day and forming part of the Housing
Guarantee Claims Fund as if the investment had been made by VMIA.

(3) VMIA may use any property in the Fund for any purpose related to the
administration of the Fund.

(4) VMIA may dispose of any property (other than money) in the Fund.

(5) VMIA may enter into any agreement with any person in relation to the
settlement of any liability of the State or to the State transferred under
section 58.