TRANSPORT INTEGRATION ACT 2010 - SECT 160 Repayment of capital
TRANSPORT INTEGRATION ACT 2010 - SECT 160
Repayment of capital(1) The capital of a Transport Corporation is repayable to the State at the times, and in the amounts, as the Minister directs in writing after consultation with the board of directors of the Transport Corporation.
(2) The Minister must have regard to any advice that the board of directors of the Transport Corporation has given to the Minister in relation to the Transport Corporation's affairs before giving a direction under subsection (1).
S. 160(3) inserted by No. 45/2010 s. 12, amended by Nos 38/2011 s. 14, 10/2016 s. 179(Sch. 1 item 8.16), 19/2022 s. 8.
(3) This section applies to Ports Victoria and the Port of Hastings Corporation with the following modifications—
(a) in subsection (1), a reference to the Minister is taken to be a reference to the Treasurer, after consultation with the Minister;
(b) in subsection (2), a reference to the Minister is taken to be a reference to the Treasurer.
S. 160(4) inserted by No. 34/2023 s. 92.
(4) This section applies to V/Line Corporation as if a reference to the board of directors of a Transport Corporation in the section were a reference to V/Line Corporation.
S. 161 amended by No. 34/2023 s. 93 (ILA s. 39B(1)).