Victorian Consolidated Legislation

Metropolitan Fire Brigades Act 1958 - SECT 47A

Guarantee of debentures etc. of Board2

47A. Guarantee of debentures etc. of Board2





(1) The due repayment of the principal and the payment of the interest secured
by any debentures issued by the Board before the commencement of section 18 of
the Borrowing and Investment Powers (Amendment) Act 1993 in accordance with
section 46, and the due repayment of any overdraft obtained by the Board in
accordance with that section as so in force, and the payment of interest on
any such overdraft, is guaranteed by the Government of Victoria.

(2) Money required by the Treasurer of Victoria for fulfilling any such
guarantee shall be paid out of the Consolidated Fund, which is hereby to the
necessary extent appropriated accordingly.



(3) When sufficient money becomes properly available to it, including money
received under section 47, the Board must reimburse the Treasurer for any such
payment, and the Treasurer must pay into the Consolidated Fund any money so
reimbursed.



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