Victorian Consolidated Legislation

Transport Accident Act 1986 - SECT 33C

Liabilities transferred to the Commission

33C. Liabilities transferred to the Commission



The following liabilities of the Treasurer or the State in respect of the
Societies become liabilities of the Commission-

   (a)  on the transfer day-

   (i)  the liabilities of the Treasurer or the State under promissory notes;

   (ii) the liability of the Treasurer under contracts entered into between
        depositors and the Treasurer on or after 20 December 1990 and before
        the transfer day, as varied by the notice issued to depositors on 22
        March 1991 notifying depositors of additional terms;

   (iii) the obligations of the Capital Works Authority set out in the
        document signed on behalf of that Authority, the Commission and VicFin
        dated 10 November 1992;

   (b)  as from a day to be fixed by Order of the Governor in Council
        published in the Government Gazette, the liability or such part of the
        liability as is specified in the Order, being the liability to the
        Commonwealth Bank of Australia under the Deed of Agreement and
        Indemnity dated 3 August 1990 between Thomas William Roper and the
        State Bank of Victoria, as varied by Deeds of Variation dated 20
        August 1990 and 31 December 1990.