Victorian Consolidated Legislation

Monash University Act 1958 - SECT 33

Establishment of Students' Loan Fund

33. Establishment of Students' Loan Fund



(1) The Council may establish a fund to be called the "Monash University
Students' Loan Fund" (hereinafter referred to as the "students' loan fund").

(2) There shall be paid to the credit of the students' loan fund-

   (a)  an amount of $20 000 which the Treasurer is hereby authorized to pay
        out of the Consolidated Fund which is hereby to the necessary extent
        appropriated accordingly;

   (b)  all moneys received in repayment of loans to students from the said
        fund together with interest on such loans; and

   (c)  all other moneys received by the Council for the purpose of being paid
        into the said fund.

(3) Out of the students' loan fund loans may be made to students of the
University who are nominated in that behalf by a committee appointed for the
purpose by the Council.

(4) The students' loan fund shall be administered in accordance with the
Statutes and regulations of the University.

(5) Any moneys standing to the credit of the students' loan fund and not
immediately required for loans to students may be invested by the Council in
any manner permitted by section 32(3) and the interest arising from any such
investment shall be paid into and form part of the Fund.

(6) Notwithstanding anything to the contrary in any Act or rule of law, any
student not being of full age to whom a loan is granted from the students'
loan fund may execute all necessary instruments and give all necessary
acquittances in respect of the loan, and shall be subject to the operation of
law in respect of the loan in all respects as if he were of full age.



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