Western Australian Consolidated Acts

EDITH COWAN UNIVERSITY ACT 1984 - SECT 38B

38B .         Repayment of trust moneys

        (1)         The amount of any moneys that are applied under section 38A(b) —

            (a)         is taken to be a loan to the University from the trust estate or trust fund from which the amount is taken; and

            (b)         subject to subsection (2), is repayable by the Council as approved by the Minister with interest at the rate approved by the Minister from time to time.

        (2)         An amount that is repayable under subsection (1)(b) (including interest on the amount) is to be repaid by the Council within 25 years.

        [Section 38B inserted by No. 70 of 2003 s. 26.]