Victorian Consolidated Legislation

State Owned Enterprises Act 1992 - SECT 51

Continuing guarantees

51. Continuing guarantees



(1) Despite a statutory corporation being declared to be a State business
corporation, a guarantee or indemnity given by the Treasurer or the Government
of Victoria by or under an Act or otherwise before the date of the declaration
in respect of the performance, satisfaction or discharge of obligations or
liabilities of the statutory corporation under an instrument issued or entered
into by the corporation before the date of that declaration, continues as a
like guarantee or indemnity.

(2) A guarantee that continues by reason of this section may be enforced under
Part II of the Crown Proceedings Act 1958.