Victorian Consolidated Legislation

State Owned Enterprises Act 1992 - SECT 46

Determination of initial capital

46. Determination of initial capital



(1) The Treasurer shall, as soon as practicable after a statutory corporation
is declared to be a State business corporation and after consultation with the
board, determine the amount of initial capital of the corporation for the
purposes of this Act.

(2) In making the determination, the Treasurer shall have regard to any
relevant advice that the board has given to the Treasurer.

(3) The determination shall be made in writing.

(4) The value of the capital is the value specified in the determination or,
if the Treasurer and the board agree that the value so specified does not
correctly represent the value, the value agreed by the Treasurer and the
board.