Victorian Consolidated Legislation

World Swimming Championships Act 2004 - SECT 20

Corporation not to make loans to members

20. Corporation not to make loans to members



(1) The powers of the Corporation do not include a power, whether directly or
indirectly-

   (a)  to make a loan to a member of the Board, a spouse of such a member or
        a relative (as defined in the Corporations Act) of such a member or
        spouse; or

   (b)  to give a guarantee or provide security in connection with a loan made
        or to be made by another person to a member of the Board, spouse or
        relative referred to in paragraph (a).

(2) Nothing in subsection (1) prohibits the Corporation entering into an
agreement or arrangement with a person referred to in subsection (1) if
similar agreements or arrangements are entered into by the Corporation with
members of the public on the same terms and conditions.