Victorian Consolidated Legislation

State Owned Enterprises Act 1992 - SECT 11

Capital

11. Capital



(1) The capital of each reorganising body is equal to the sum of-

   (a)  the amount of the body's initial capital under this Act in accordance
        with section 10(1);

   (b)  any part of the body's liabilities that is converted into capital at
        the direction of the Treasurer;

   (c)  any amounts paid to the body out of money appropriated by the
        Parliament for the purpose of providing capital; and

   (d)  any part of the body's reserves that is converted into capital at the
        direction of the Treasurer after consultation with the board-

less any amounts of capital repaid under section 12.

(2) Interest is not payable to the State on a reorganising body's capital.