Western Australian Consolidated Acts Western Australian Consolidated Acts (1) The Minister, with
the Treasurer’s concurrence and in accordance with subsections (2),
(3) and (4), may, by notice to a port authority, impose monetary limits on the
exercise of the powers conferred by section 85.
(2) The monetary limit
is to be determined for the exercise of those powers in a financial year
specified by the Minister and may relate to —
(a) the
total amount that can be outstanding at any one time during that year as a
result of the exercise of those powers; or
(b) the
total liabilities that can be incurred during that year as a result of the
exercise of those powers.
(3) A limit for the
time being in force may be varied for a subsequent financial year.
(4) A limit for the
time being in force continues to apply until it is so varied.
(5) A port authority
must comply with any limit for the time being in force in relation to it.
(6) A liability of a
port authority is not unenforceable or in any way affected by a failure of the
port authority to comply with this section.
(7) No person dealing
with a port authority is bound or concerned to enquire whether the port
authority has complied or is complying with this section.