Victorian Consolidated Legislation

Transport Act 1983 - SECT 77

Power of Minister to execute guarantee

77. Power of Minister to execute guarantee



(1) The Treasurer may execute a guarantee in favour of any person guaranteeing
the due performance of any obligations of the Corporation under a contract to
be entered into by the Corporation with that person pursuant to this Act.





(1A) The Treasurer may execute a guarantee in favour of any person
guaranteeing the due performance of any obligations of any person to whom the
rights and liabilities of the Corporation arising under a contract entered
into by that Corporation with the first-mentioned person pursuant to this Act
have been assigned.

(1B) Where the rights and liabilities of the Corporation arising under a
contract entered into by that Corporation with a person pursuant to this Act
have been assigned with the approval of the Treasurer to another person, the
Treasurer may amend any guarantee given by him or her under this section in
respect of that contract so that it extends to guaranteeing the due
performance of any obligations of that other person under that contract.



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(2) Any sums required by the Treasurer for fulfilling any guarantee given by
him under this section shall be paid out of the Consolidated Fund (which is
hereby to the necessary extent appropriated accordingly) and any sums received
or recovered by the Treasurer from the Corporation or otherwise in respect of
any sums so paid by the Treasurer shall be paid into the Consolidated Fund.

(3) Where the rights and liabilities arising under a contract entered into by
the Corporation with a person have been assigned with the approval of the
Treasurer to another person, the Treasurer may approve of the assignment to
that other person of any guarantee given by him under this section in respect
of that contract.



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