TRANSPORT INTEGRATION ACT 2010 - SECT 64P Power of Treasurer to execute guarantee

TRANSPORT INTEGRATION ACT 2010 - SECT 64P

S. 64P(1) substituted by No. 49/2019 s. 21(1).

    (1)     The Treasurer may execute a guarantee in favour of any person guaranteeing the due performance of any obligations of the Head, Transport for Victoria under a contract—

        (a)     to be entered into by the Head, Transport for Victoria with that person under this Act; or

        (b)     with the person to which the Head, Transport for Victoria is substituted as a party under Division 4 of Part 12; or

S. 64P(1)(c) amended by No. 30/2021 s. 71(a).

        (c)     to which the person is a party which was assigned or novated to the Head, Transport for Victoria by the Public Transport Development Authority or the Roads Corporation; or

S. 64P(1)(d) inserted by No. 30/2021 s. 71(b).

        (d)     to which the person is a party which was transferred by Transfer Order to the Head, Transport for Victoria from the Public Transport Development Authority or the Roads Corporation.

S. 64P(2) amended by No. 49/2019 s. 21(2).

    (2)     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 Head, Transport for Victoria arising under a contract entered into by the Head, Transport for Victoria with the first-mentioned person under this Act have been assigned.

S. 64P(3) amended by No. 49/2019 s. 21(2).

    (3)     If the rights and liabilities of the Head, Transport for Victoria arising under a contract entered into by the Head, Transport for Victoria with a person under this Act have been assigned with the approval of the Treasurer to another person, the Treasurer may amend any guarantee given by the Treasurer 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.

    (4)     Any money required by the Treasurer for fulfilling any guarantee given by the Treasurer under this section must be paid out of the Consolidated Fund which is hereby to the necessary extent appropriated accordingly.

S. 64P(5) amended by No. 49/2019 s. 21(3).

    (5)     Any money received or recovered by the Treasurer from the Head, Transport for Victoria or otherwise in respect of any money paid by the Treasurer under subsection (4) must be paid into the Consolidated Fund.

S. 64P(6) amended by No. 49/2019 s. 21(3).

    (6)     If the rights and liabilities arising under a contract entered into by the Head, Transport for Victoria 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 the Treasurer under this section in respect of that contract.

S. 64PA inserted by No. 49/2019 s. 22.