Victorian Consolidated Legislation

State Owned Enterprises Act 1992 - SECT 47

Capital

47. Capital



(1) The capital of each State business corporation is equal to the sum of-

   (a)  the amount of the corporation's initial capital under this Act (in
        accordance with section 46(1));

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

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

   (d)  any part of the corporation'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 48.

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