Victorian Consolidated Legislation

Metropolitan Fire Brigades Act 1958 - SECT 47

Power of Minister in case of default of Board

47. Power of Minister in case of default of Board

If the Board at any time makes default in paying any principal money or
interest secured by any debenture, the Minister shall be entitled to receive
from the Treasurer of Victoria and receive and recover from the municipalities
and the insurance companies respectively either the whole of the annual
contributions which would otherwise have been payable to the Board or such
part thereof as the Treasurer of Victoria determines to be necessary for the
purposes of paying any principal money or interest in arrear and shall apply
to such purposes the moneys so received. This section shall not be deemed to
take away any right of action or procedure which any debenture holder at any
time has in respect of the property and revenue of the Board.