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Version No. 040

Treasury Corporation of Victoria Act 1992No. 80 of 1992

Version incorporating amendments as at 17 March 2011

TABLE OF PROVISIONSSection Page

PART 1—PRELIMINARY 1

1 Purpose 12 Commencement 13 Definitions 14 Extra-territorial operation 3

PART 2—TREASURY CORPORATION OF VICTORIA 5

5 Establishment of Corporation 56 Objectives of the Corporation 57 Corporation not the Crown 68 Functions 69 Powers 810 Directions of Treasurer 911 Board of Directors 912 Terms of appointment 1013 Remuneration 1014 Repealed 1115 Vacancies, resignation and removal from office 1116 Acting appointments 1117 Pecuniary interests of members 1218 Chairperson 1219 Proceedings of the Board 1320 Resolutions without meetings 1421 Validity of decisions 1422 Improper use of information 1523 Delegation 1524 Chief executive officer and other staff 1525 Vacancy etc. in office of chief executive officer 1626 Public servants 16

PART 3—OPERATIONS OF CORPORATION 18

27 Participating authorities 18

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28 Strategic plans 1829 Exchange of securities 1930 Sinking fund 2031 Distribution of surplus 2032 Statutory guarantee 2033 Guarantee 2134 Appropriation for guarantee 2235 Enforcement of guarantees 2236 Initial capital of Corporation 22

PART 3A—FINANCIAL OBLIGATIONS OF PUBLIC AUTHORITIES 23

36A Definitions 2336B Crown bound 2536C Part to prevail 2536D Victorian financial obligations of public authority may

become financial obligations of Corporation 2536E Financial obligations not governed by law of Victoria 2736F Guarantee 2836G Validity of things done 2936H Corporation to be party to certain proceedings 30

PART 3B—FINANCIAL OBLIGATIONS OF VICTORIAN HOUSING BONDS LTD. 31

36I Definitions 3136J Crown bound 3236K Financial obligations of VHB 3236L Guarantee 3436M Validity of things done 3536N Corporation to be party to certain proceedings 3536O Instruments under which bonds issued 36

PART 4—DEBT RETIREMENT 37

37 Assets and liabilities of Victorian Debt Retirement Fund 3738 Appropriation for further debt retirement 3739 Repealed 38

PART 5—GENERAL 39

40 Exemption from Freedom of Information Act 1982 39

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41 Securities of Corporation lawful investment 3942 Owner of security not responsible for application of money 3943 No notice of trust receivable 4044 Regulations 40

PART 6—TRANSITIONAL 41

45 Corporation to become successor in law of VicFin 4146 VicFin instruments 4147 Pending proceedings 4248 Participating authorities 4249 Regulations under VicFin Act 4250 General Manager of VicFin 4350A Validation 4350B Supreme Court—limitation of jurisdiction 44

PART 7—Repealed 44

51–57 Repealed 44__________________

SCHEDULE 1—Public Authorities 45

═══════════════

ENDNOTES 47

1. General Information 47

2. Table of Amendments 48

3. Explanatory Details 54

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Version No. 040


Version incorporating amendments as at 17 March 2011

The Parliament of Victoria enacts as follows:

PART 1—PRELIMINARY

1 Purpose

The purpose of this Act is to establish the Treasury Corporation of Victoria and to provide for the Corporation to be the successor in law of VicFin.

2 Commencement

This Act comes into operation on a day or days to be proclaimed.

3 Definitions

In this Act—

arrangement has the same meaning as in the Borrowing and Investment Powers Act 1987;

Board means the Board of Directors of the Corporation;

Corporation means the Treasury Corporation of Victoria established under this Act;

director means director of the Board;

financial accommodation has the same meaning as in the Borrowing and Investment Powers Act 1987;

financial arrangement has the same meaning as in the Borrowing and Investment Powers Act 1987;

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guarantee includes indemnity;

invest includes enter into a transaction or arrangement for the protection or enhancement of investments;

lease has the same meaning as in the Borrowing and Investment Powers Act 1987;

participating authority means a public authority that is accepted by the Corporation as a participating authority under section 27 but does not include an authority that ceases to be a participating authority under that section;

prescribed agency means—

(a) a body all the voting shares in which are owned by or on behalf of the State, whether directly or indirectly; or

(b) a trustee of a trust of which the State is the sole beneficiary—

prescribed by the regulations as a body or trustee to which this Act applies;

public authority means—

(a) an agency or instrumentality of the State established by or under an Act;

(b) an agency or instrumentality of the State constituted by a Minister or by one or more employees in the public service;

(c) a body established by an Act a member of which, or a member of the governing body of which, is appointed by the Governor in Council or by a Minister;

(d) a body established by an Act that is financed wholly or in part from public money;

2

s. 3

S. 3 def. of public authority amended by Nos 35/1994 s. 4, 46/1998 s. 7(Sch. 1).

(e) a prescribed agency;

(f) Victorian Housing Bonds Limited A.C.N. 006 955 577;

(g) Home Opportunity Loans Scheme Trust;

(h) the trustee for the time being of the Home Opportunity Loans Scheme Trust;

security includes stock, inscribed stock, debenture, bond, debenture stock, notes, certificate of deposit or a document creating, evidencing or acknowledging indebtedness in respect of financial accommodation whether constituting a charge on property or not;

VicFin means the Victorian Public Authorities Finance Agency established by the Victorian Public Authorities Finance Act 1984;

Victorian Debt Retirement Fund means the fund established by the Victorian Debt Retirement Fund Act 1990;

* * * * *

4 Extra-territorial operation

It is the intention of the Parliament that the operation of this Act should, as far as possible, include operation in relation to the following—

(a) land situated outside Victoria, whether in or outside Australia;

3

S. 3 def. of Victorian Development Fund repealed by No. 18/1994 s. 66(Sch. 2 item 26.1).

s. 4

(b) things situated outside Victoria, whether in or outside Australia;

(c) acts, transactions and matters done, entered into or occurring outside Victoria, whether in or outside Australia;

(d) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.

_______________

4

s. 4

PART 2—TREASURY CORPORATION OF VICTORIA

5 Establishment of Corporation

(1) There is established a Treasury Corporation of Victoria.

(2) The Corporation—

(a) is a body corporate with perpetual succession;

(b) has an official seal;

(c) may sue and be sued;

(d) may acquire, hold and dispose of real and personal property;

(e) may do and suffer all acts and things that a body corporate may by law do and suffer.

(3) All courts must take judicial notice of the seal of the Corporation affixed to a document and, until the contrary is proved, must presume that it was duly affixed.

(4) The official seal of the Corporation must be kept in such custody as the Corporation directs and must not be used except as authorised by the Corporation.

6 Objectives of the Corporation

The objectives of the Corporation are—

(a) to act as a financial institution for the benefit of the State and participating authorities;

(b) to enhance the financial positions of the Corporation and of participating authorities and the State;

(c) to provide its services in an effective, efficient and competitive manner.

s. 5


5

7 Corporation not the Crown

The Corporation is not, and is not to be taken to represent, the Crown.

8 Functions

(1) The functions of the Corporation are—

(a) to obtain financial accommodation within or outside Australia;

(b) to provide financial accommodation to a participating authority or the State;

(c) to enter into or perform financial arrangements;

(d) as principal or agent, to manage funds of a participating authority or the State;

(e) to manage the reduction, retirement or cancellation of debt for or on behalf of the State and participating authorities;

(f) to manage such trust accounts established in the Trust Fund under the Financial Management Act 1994 as the Treasurer and the Corporation determine;

(g) to provide, or to arrange for the provision of, financial services for, and financial advice to, participating authorities and the State;

(h) to acquire real or personal property for use by the Corporation, a participating authority or the State;

(i) to sell, mortgage or grant a lease of property held by the Corporation;

s. 7

S. 8(1)(e) amended by No. 18/1994 s. 66(Sch. 2 item 26.2(a)), substituted by No. 24/1995 s. 4.

S. 8(1)(f) amended by Nos 18/1994 s. 66(Sch. 2 item 26.2(b)), 73/1996 s. 98(2)(a).


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(j) to manage the assets and liabilities of the Corporation;

(k) to carry out such functions or provide such financial or other services in relation to any liabilities or financial assets of the State or a participating authority as the Treasurer determines by notice in writing given to the Corporation;

(l) to make submissions or recommendations or give advice to the Treasurer in respect of the State's assets and liabilities and, if so requested by the Treasurer, to enter into and perform transactions including financial arrangements—

(i) to hedge, protect or manage the value of the State's assets or liabilities, or prospective assets or liabilities, against movements in currency rates, interest rates, prices of shares, property or commodities or any other rates, costs or other factors that affect or could affect, the value of the State's assets or liabilities or prospective assets or liabilities; or

(ii) to acquire and dispose of the State's assets or liabilities;

(m) to carry out such other functions as are conferred on it by this or any other Act.

(2) As soon as possible after giving a notice under subsection (1)(k), the Treasurer must cause a copy of the notice to be published in the Government Gazette.

S. 8(1)(l) substituted by No. 100/1995 s. 10(1)(Sch. 1 item 7.1).

s. 8


7

9 Powers

(1) For the purpose of achieving its objectives and performing its functions, the Corporation—

(a) has the powers conferred on it by the Borrowing and Investment Powers Act 1987;

(b) unless the Treasurer otherwise directs, may purchase securities issued by it and may resell such securities;

(c) with the approval of the Treasurer, may give a guarantee of the obligations of another person for a purpose consistent with the Corporation's objectives and functions; and

(d) except as provided in paragraph (c), may give indemnities for a purpose consistent with its objectives and functions; and

(e) for the purpose of carrying out its functions under section 8(1)(e) and (f), may, with the approval of the Treasurer, exercise such powers as the Treasurer may exercise in relation to the management of a trust account in the Trust Fund under the Financial Management Act 1994;

(f) may do all other things necessary or convenient to be done for or in connection with, or as incidental to, the achievement of its objectives or the performance of its functions.

(2) Without limiting the generality of subsection (1), the Corporation may, with the approval of the Treasurer, and subject to such terms and conditions as the Treasurer determines—

(a) be a member of a body corporate, association, partnership, trust or other body; or

s. 9

S. 9(1)(e) amended by No. 18/1994 s. 66(Sch. 2 item 26.3).


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(b) form, or participate in the formation of, a body corporate, association, partnership, trust or other body; or

(c) subscribe for or otherwise acquire, deal with and hold and dispose of, units in a trust; or

(d) enter into a joint venture with another person or persons.

10 Directions of Treasurer

(1) In the exercise of its powers and performance of its functions, the Corporation is subject to the general direction and control of the Treasurer.

(2) The Treasurer must not give a direction under this section that is inconsistent with the objectives of the Corporation.

(3) A direction under this section may include a direction concerning performance measures which the Corporation is to aim to meet.

(4) As soon as possible after giving a direction in writing to the Board, the Treasurer must cause a copy of the direction to be published in the Government Gazette.

(5) The Corporation must include in the annual report under the Financial Management Act 1994 a copy of each direction given to it in writing by the Treasurer during the year to which the report relates.

11 Board of Directors

(1) There shall be a Board of Directors of the Corporation.

(1A) The Board—

(a) is responsible for the management of the affairs of the Corporation; and

(b) may exercise the powers of the Corporation.

s. 10

S. 10(4) amended by No. 73/1996 s. 98(2)(b).

S. 10(5) amended by Nos 31/1993 s. 7(a), 73/1996 s. 98(2)(c).

S. 11(1A) inserted by No. 31/1993 s. 4.


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(2) The Board shall consist of the chief executive officer of the Corporation appointed under section 24 and not less than 5, and not more than 7, other directors appointed by the Governor in Council on the recommendation of the Treasurer.

(3) The Treasurer must appoint one of the directors as Chairperson of the Board and one as Deputy Chairperson of the Board.

(4) A person who is the chief executive officer of the Corporation is not eligible to be chairperson or deputy chairperson.

(5) An officer of the Corporation, other than the chief executive officer, is not eligible to be a Director.

12 Terms of appointmentS. 12(1) amended by No. 24/1995 s. 5(c).s. 12

(1) A director, other than the chief executive officer of the Corporation, is appointed for such term, not exceeding 3 years, as is specified in the director's instrument of appointment and is eligible to be re-appointed.

(2) The Public Administration Act 2004 (other than Part 3 of that Act) applies to a director of the Corporation in respect of the office of director.

13 Remuneration

A director (other than the chief executive officer), unless an employee in the public service, is

S. 11(2) amended by No. 24/1995 s. 5(a).

S. 11(4) amended by No. 24/1995s. 5(b).

S. 12(2) amended by Nos 24/1995 s. 5(d), 46/1998 s. 7(Sch. 1), substituted by Nos 108/2004 s. 117(1) (Sch. 3 item 212), 80/2006 s. 26(Sch. item 105).

S. 13 amended by No. 46/1998 s. 7(Sch. 1).


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entitled to the remuneration and allowances (if any) fixed by the Governor in Council.

* * * * *

15 Vacancies, resignation and removal from office

(1) An appointed director ceases to be a director if he or she—

(a) becomes bankrupt; or

(b) is absent, without leave first granted by the Board, from 3 consecutive meetings of which reasonable notice has been given to that director personally or by post.

(2) An appointed director may resign by writing delivered to the Governor.

(3) The Governor in Council may remove an appointed director from office.

16 Acting appointments

(1) The Governor in Council may appoint a person (not being the chief executive officer of the Corporation) to act as Chairperson of the Board—

(a) during a vacancy in the office of the Chairperson and the Deputy Chairperson;

(b) during any period, or during all periods, when the Chairperson and the Deputy Chairperson are absent or are, for any other reason, unable to perform the functions of Chairperson—

but a person appointed to act during a vacancy must not continue so to act for more than 6 months.

S. 14 repealed by No. 73/1996 s. 98(1).

s. 15


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(2) If an appointed director is unable to perform his or her functions, the Governor in Council may appoint another person to act in the place of that director during the period of inability.

(3) An acting appointment shall be for the term and on the conditions determined by the Governor in Council.

(4) The Governor in Council may at any time terminate an acting appointment.

(5) A person appointed under this section has all the powers, and may perform all the functions, of the person for whom he or she is acting.

17 Pecuniary interests of members

(1) A director who has a pecuniary interest in a matter being considered or about to be considered by the Board must, as soon as practicable after the relevant facts have come to his or her knowledge, declare the nature of the interest at a meeting.

(2) A person presiding at a meeting at which a declaration is made must cause a record of the declaration to be made in the minutes of the meeting.

(3) After a declaration is made by a director—

(a) unless the Board of Directors (excluding that director) otherwise resolves, the director must not be present during any deliberation with respect to that matter; and

(b) that director is not entitled to vote on the matter; and

(c) if that director does vote on the matter, the vote must be disallowed.

18 Chairperson

The Chairperson of the Board or, in his or her absence, the Deputy Chairperson or, in the

s. 17

S. 18 amended by No. 29/2006 s. 3(Sch. 1 item 37).


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absence of both the Chairperson and the Deputy Chairperson, the Acting Chairperson, must preside at a meeting of the Board.

19 Proceedings of the Board

(1) Four directors constitute a quorum of the Board.

(2) A question arising at a meeting shall be determined by a majority of votes of directors present who are eligible to vote, and vote, on that question, and if voting is equal, the Chairperson has a casting, as well as a deliberative, vote.

(3) The Board must—

(a) cause all minutes of all proceedings of its meetings to be entered, within one month after the relevant meeting is held, in books kept for that purpose; and

(b) cause those minutes to be signed by the person who presided at the meeting at which the proceedings took place or by the person presiding at the next succeeding meeting; and

(c) cause a copy of the minutes of each meeting to be given to the Treasurer within three days after the meeting at which they are so signed.

(4) Any minute that is so entered and purports to be so signed is evidence of the proceedings to which it relates.

(5) If minutes have been so entered and signed, then, unless the contrary is proved—

(a) the meeting shall be deemed to have been duly held and convened; and

(b) all proceedings that are recorded in the minutes as having taken place at the meeting

s. 19


13

shall be deemed to have duly taken place; and

(c) all appointments that are recorded in the minutes as having been made at the meeting shall be deemed to have been validly made.

(6) Subject to this Act, the Board may regulate its own proceedings.

20 Resolutions without meetings

(1) If a majority of the directors for the time being sign a document containing a statement that they are in favour of a resolution in terms set out in the document, a resolution in those terms shall be taken to have been passed at a meeting of the Board held on the day on which the document is signed or, if the directors do not sign it on the same day, on the day on which the last director signs the document.

(2) If a resolution is, under subsection (1), taken to have been passed at a meeting of the Board, each director must immediately be advised of the matter and given a copy of the terms of the resolution.

(3) For the purposes of subsection (1), two or more separate documents containing a statement in identical terms, each of which is signed by one or more directors, shall be taken to constitute one document.

21 Validity of decisions

An act or decision of the Board is not invalid—(a) by reason only—

(i) of a defect or irregularity in, or in connection with, the appointment of a director; or

(ii) of a vacancy in the office of director, including a vacancy arising out of the

s. 20


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failure to appoint an original director; or

(b) on the ground that the occasion for an acting director to act had not arisen or had ceased.

22 Improper use of information

A person who is, or has been, a director or employee of the Board must not make improper use of any information acquired only in the course of his or her duties to obtain directly or indirectly any pecuniary or other advantage for himself or herself or for any other person.

Penalty:50 penalty units.

23 Delegation

The Board may, in writing, delegate to a director or any other person any power of the Corporation or the Board, other than this power of delegation.

24 Chief executive officer and other staff

(1) There shall be a chief executive officer of the Corporation appointed by the Board with the approval of the Treasurer.

(2) The term of office of the chief executive officer is the term (not exceeding 5 years) specified in the instrument of appointment, and the chief executive officer is eligible for re-appointment.

(3) Subject to this section, the terms and conditions of appointment of the chief executive officer shall be set by the Board.

(4) The Board may engage such other officers and employees as are necessary for the performance of its functions.

(5) The terms and conditions of appointment or employment are as determined by the Board.

s. 22


15

25 Vacancy etc. in office of chief executive officer

(1) The office of the chief executive officer becomes vacant if the chief executive officer—

(a) becomes bankrupt; or

(b) is convicted of an indictable offence or of an offence that, if committed in Victoria, would be an indictable offence.

(2) The chief executive officer may resign by writing delivered to the Board.

(3) The Board may remove the chief executive officer from office.

26 Public servantsS. 26(1) amended by No. 31/1993 s. 5(1).s. 25

(1) An employee of the Corporation who, immediately before being so appointed or employed, was an officer of the public service, is eligible, if he or she ceases to be so employed within 60 days after the commencement of section 5 of the Treasury Corporation of Victoria (Debt Centralisation) Act 1993, to be re-appointed to the public service at a level not less than the level of the last office held by him or her in the public service as if service with the corporation were service in the public service.

(1A) Subsection (1) does not apply to a person who first becomes an employee of the Corporation on or after the commencement of section 5 of the Treasury Corporation of Victoria (Debt Centralisation) Act 1993.

S. 26(3) inserted by No. 31/1993 s. 5(2), re-numbered as s. 26(1A) by No. 61/1995 s. 17.


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(2) A person who, immediately before employment as an employee of the Corporation, was an officer within the meaning of the State Superannuation Act 1988, continues, subject to that Act, to be such an officer, despite that appointment or employment.

_______________

s. 26


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PART 3—OPERATIONS OF CORPORATION

27 Participating authorities

(1) A public authority may give notice in writing to the Corporation seeking acceptance as a participating authority for the purposes of this Act.

(2) The Corporation may by notice in writing given to a public authority that has given notice under subsection (1) accept the public authority as a participating authority for the purposes of this Act.

(3) If—

(a) a participating authority gives notice in writing to the Corporation of its intention to cease to be a participating authority; or

(b) the Corporation, by notice in writing given to a participating authority, revokes the acceptance of the authority as a participating authority for the purposes of this Act—

the participating authority ceases to be a participating authority for the purposes of this Act unless and until it is again accepted as such an authority under this section.

28 Strategic plans

(1) The Board must, before a date to be fixed by the Treasurer each year, submit to the Treasurer for his or her approval a strategic plan for its operations, including its management of the reduction, retirement or cancellation of debt, for the next 3 years in a form approved by the Treasurer and containing such matters as the Treasurer requires.

s. 27

S. 27(2) amended by No. 35/1994 s. 9(a).

S. 28(1) amended by No. 24/1995 s. 6.


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(2) The Board must, in respect of each quarter ending on 30 September, 31 December and 31 March, prepare a quarterly report of its operations during the quarter as against the strategic plan.

(3) The Board must submit the report to the Treasurer as soon as possible after the end of the quarter to which it relates.

29 Exchange of securities

(1) If—

(a) a participating authority agrees; and

(b) the Treasurer approves—

the Corporation may exchange a security issued by the Corporation under the Borrowing and Investment Powers Act 1987 for a similar security issued by the participating authority, whether before or after the commencement of this section.

(2) A security issued under subsection (1) in exchange for another security has the same maturity date and bears interest payable at the same rate and on the same dates as in the case of the other security but is otherwise subject to the provisions of the Borrowing and Investment Powers Act 1987 and regulations under that Act relating to the issue of securities.

(3) For the purpose of calculating the interest payable on a security referred to in this section, the interest payable includes interest accruing up to the day on which the security was issued but that was not paid before that day.

s. 29


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30 Sinking fund

(1) With the approval of the Treasurer, the Corporation may provide a sinking fund in respect of financial accommodation for which it is liable at such rate and for such period as the Board determines.

(2) The Corporation must invest a sinking fund in such manner as the Treasurer approves.

31 Distribution of surplus

The Corporation must in each financial year pay to the Consolidated Fund from its surplus for the preceding financial year such amount as the Treasurer, after consultation with the Corporation, determines.

32 Statutory guarantee

(1) The due satisfaction of amounts payable by the Corporation as a result of or in connection with the provision to the Corporation, or to VicFin before the commencement of this section, of financial accommodation or the entering into of financial arrangements by the Corporation, or by VicFin before that commencement, including, without limiting the generality of the foregoing, the payment of expenses of enforcing or obtaining or endeavouring to enforce or obtain such satisfaction is guaranteed by the Government of Victoria.

(2) Subsection (1) does not apply in relation to the provision of financial accommodation or entering into of financial arrangements—

(a) in respect of which a guarantee under section 33 is in force; or

s. 30


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(b) that (whether or not at the direction of the Treasurer) were declared in writing by the Corporation before the provision of the financial accommodation or the entering into of the financial arrangements to be matters to which subsection (1) would not apply.

(3) If the Corporation makes a declaration under subsection (2)(b), the Corporation must cause notice of the declaration to be given to any other party before the provision of the financial accommodation or the entering into of the financial arrangements and to be published in the Government Gazette as soon as possible.

(4) The statutory guarantee under section 13 of the Borrowing and Investment Powers Act 1987 does not apply to the Corporation.

33 Guarantee

The Treasurer, on behalf of the Government of Victoria, may execute a guarantee on such terms and conditions as the Treasurer determines in favour of any person or body of persons guaranteeing the due performance of any obligations of the Corporation under any arrangement entered into or to be entered into by the Corporation or the due performance of any obligations of a body corporate, association, partnership, trust or other body formed by the Corporation or a joint venture entered into by the Corporation including, without limiting the generality of the foregoing, the payment of expenses of enforcing or obtaining or endeavouring to enforce or obtain such satisfaction.

s. 33


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34 Appropriation for guarantee

(1) Any sums required by the Treasurer in fulfilling any liability arising under a guarantee by the Government of Victoria provided by or given under this Act shall be paid out of the Consolidated Fund (which is hereby to the necessary extent appropriated accordingly).

(2) Any sums received or recovered by the Treasurer from the Corporation or otherwise in respect of any sums paid by the Treasurer under a guarantee shall be paid into the Consolidated Fund.

35 Enforcement of guarantees

A guarantee under section 32 has effect and may be enforced as if the guarantee were a contract made on behalf of the Crown and section 23(1)(a) of the Crown Proceedings Act 1958 applied accordingly.

36 Initial capital of Corporation

(1) The Treasurer may, in respect of the financial year ending on 30 June 1993, pay to the Corporation as initial capital such amount, not exceeding $30 000 000 as the Treasurer determines.

(2) The Consolidated Fund is appropriated to the extent necessary for the purposes of subsection (1).

_______________

s. 34


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PART 3A—FINANCIAL OBLIGATIONS OF PUBLIC AUTHORITIES

36A Definitions

In this Part—

constituting Act, in relation to a public authority, means the Act referred to in column 2 of Schedule 1 opposite the name of the public authority in column 1 of that Schedule;

financial accommodation means a financial benefit or assistance to obtain a financial benefit arising from or as a result of—

(a) a loan;

(b) issuing, endorsing or otherwise dealing in promissory notes;

(c) drawing, accepting, endorsing or otherwise dealing in bills of exchange;

(d) issuing, purchasing or otherwise dealing in securities;

(e) granting or taking a lease of any real or personal property for financing but not for operating purposes;

(f) in relation to a public authority, any other arrangement that the Governor in Council on the recommendation of the Treasurer has approved as financial accommodation in relation to the public authority under the Borrowing and Investment Powers Act 1987;

Pt 3A (Heading and ss 36A–36H) inserted by No. 31/1993 s. 6.

S. 36A inserted by No. 31/1993 s. 6.

s. 36A


23

* * * * *

financial obligation, in relation to a public authority, means the liability of the public authority in respect of—

(a) financial accommodation obtained by the public authority; or

(b) a financial arrangement entered into by the public authority—

and includes the liability of the public authority in respect of inscribed stock issued by the public authority;

S. 36A def. of public authority amended.1 s. 36A

public authority means the Grain Elevators Board, the Victorian Urban Development Authority, the Port of Geelong Authority, the Port of Portland Authority, the Port of Melbourne Corporation, the Victorian Regional Channels Authority, Victorian Rail Track, V/Line Corporation, the Gas Transmission Corporation, GASCOR, the Melbourne Water Corporation, a company licensee within the meaning of Part 5 of the Water Industry Act 1994 or the State Electricity Commission of Victoria or Generation Victoria, National Electricity, VENCorp, a public distribution company, public transmission company or public generation company within the meaning of the Electricity Industry (Residual

S. 36A def. of financial arrangement repealed by No. 100/1995 s. 10(1)(Sch. 1 item 7.2(a)).

s. 36A


24

Provisions) Act 1993 or a participating authority approved by the Treasurer for the purposes of this section;

security includes inscribed stock and debenture, bond, debenture stock, notes or any other document creating, evidencing or acknowledging indebtedness in respect of financial accommodation, whether or not constituting a charge on property of a public authority.

36B Crown bound

This Part binds the Crown, not only in right of the State but also, so far as the legislative power of the Parliament permits, the Crown in all its other capacities.

36C Part to prevail

If a provision of this Part is inconsistent with a provision of the constituting Act of a public authority, or of any other Act concerning functions or powers on a public authority, the provision of this Part prevails.

36D Victorian financial obligations of public authority may become financial obligations of Corporation

(1) The Governor in Council, on the recommendation of the Treasurer, may, by Order published in the Government Gazette, declare that the financial obligations of a public authority, or financial obligations included in a class of financial obligations of a public authority, specified in the Order, being financial obligations that are governed by the law of Victoria, are to be taken to be liabilities of the Corporation.

(2) On the publication of an Order under subsection (1)—

S. 36B inserted by No. 31/1993 s. 6.

s. 36B

S. 36C inserted by No. 31/1993 s. 6.

S. 36D inserted by No. 31/1993 s. 6.


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(a) all rights of the public authority in and in respect of the financial accommodation, a financial arrangement or inscribed stock to which the financial obligations specified in the Order relate vest in the Corporation; and

(b) all obligations of the public authority in respect of that financial accommodation, financial arrangement or inscribed stock become obligations of the Corporation; and

(c) the public authority ceases to have any rights or obligations in respect of that financial accommodation, financial arrangement or inscribed stock; and

(d) in the case of a financial obligation relating to financial accommodation which is evidenced by an instrument, the instrument has effect as if it were a security issued by the Corporation, unless it is surrendered under this section in exchange for a similar security.

(3) Despite the making of an Order under subsection (1) relating to financial obligations of a public authority—

(a) the public authority must pay to the Corporation such amounts, and at such times, as the public authority would have been liable to pay in respect of those financial obligations if the Order had not been made, except in so far as the Corporation and the public authority otherwise agree; and

(b) the Corporation must pay to the public authority such amounts, and at such times, as the public authority would have been entitled to receive in respect of the financial obligations if the Order had not been made,

s. 36D


26

except in so far as the Corporation and the public authority otherwise agree.

(4) An amount payable under subsection (3) may be recovered in a court of competent jurisdiction as a debt due to the Corporation or the public authority, as the case requires.

(5) Despite anything in the constituting Act of a public authority—

(a) the holder of a security affected by this section is entitled, upon surrender of, or giving an indemnity in terms approved by the Corporation in respect of, the security, to be issued in exchange with a security by the Corporation, being a security corresponding in all respects to the first-mentioned security, except for the issuer; and

(b) upon the issue of that corresponding security, the original security is cancelled.

(6) For the purpose of calculating the interest payable on a security issued under subsection (5), the interest payable includes interest accruing and unpaid in respect of the original security as at the date of its cancellation.

(7) A public authority must pay to the Corporation the amount, if any, determined by the Treasurer to defray the cost of issuing securities corresponding to securities of the public authority cancelled under this section.

36E Financial obligations not governed by law of Victoria

(1) The Governor in Council, on the recommendation of the Treasurer, may, by Order, declare that the financial obligations of a public authority, or

s. 36E

S. 36E inserted by No. 31/1993 s. 6.


27

financial obligations of a public authority included in a class of financial obligations specified in the Order, being financial obligations that are governed by a law other than the law of Victoria, are financial obligations to which this section relates.

(2) The Corporation and the public authority, with or without any other party, may enter into an arrangement for an assumption, or that has the effect of an assumption, by the Corporation of the public authority's rights and obligations in respect of the financial accommodation or financial arrangements to which the financial obligations specified in an Order under subsection (1) relate.

(3) An arrangement under subsection (2) may include—

(a) an arrangement under which the Corporation is substituted for the public authority as a party to a transaction;

(b) the assumption of rights or liabilities, or both, of the public authority by the Corporation by way of novation;

(c) an arrangement under which the public authority indemnifies the Corporation in respect of the obligations under the financial obligations;

(d) any arrangement of a kind approved by the Treasurer for the purposes of this section.

36F Guarantee

(1) The due satisfaction of amounts—

(a) payable by the Corporation as a result of or in connection with the operation of section 36D or 36E; or

(b) payable by a public authority under section 36D(3)(a) or 36E—

S. 36F inserted by No. 31/1993 s. 6.

s. 36F


28

including, without limiting the generality of the foregoing, the payment of expenses of enforcing or obtaining or endeavouring to enforce or obtain such satisfaction is guaranteed by the Government of Victoria.

(2) Any sums required by the Treasurer in fulfilling any liability arising under a guarantee referred to in subsection (1) shall be paid out of the Consolidated Fund (which is hereby to the necessary extent appropriated accordingly).

(3) Any sums received or recovered by the Treasurer from the Corporation or a public authority or otherwise in respect of any sums paid by the Treasurer under a guarantee referred to in subsection (1) shall be paid into the Consolidated Fund.

(4) A guarantee referred to in this section may be enforced against the Crown by a proceeding under Part II of the Crown Proceedings Act 1958.

36G Validity of things done

Nothing in this Part or done or suffered by a public authority or the Corporation under this Part—

(a) is to be regarded as placing the public authority or the Corporation or any other person in breach of contract or confidence or as otherwise making either of them guilty of a civil wrong; or

(b) is to be regarded as placing any person in breach of or as constituting a default under any Act or other law or any provision in any agreement, arrangement or understanding including, without limiting the generality of the foregoing, any provision prohibiting, restricting or regulating the assignment or

S. 36G inserted by No. 31/1993 s. 6.

s. 36G


29

transfer of any right or liability or the disclosure of any information; or

(c) is to be regarded as fulfilling any condition which allows a person to terminate any agreement or obligation or modifying the operation or effect of any agreement or requiring any money to be paid, or declaring any money to be payable before its stated maturity; or

(d) releases any surety or other obligee wholly or in part from any obligation.

36H Corporation to be party to certain proceedings

(1) If, immediately before the commencement of this section, a public authority was a party to proceedings relating to or affecting a transferred financial obligation, the Corporation is to be taken to be a party to those proceedings either in substitution for the public authority or as an additional party, as the case requires.

(2) In this section transferred financial obligation means a financial obligation the rights or liabilities under which, by operation of or under this Part, are rights and liabilities of, or are assumed by, the Corporation.

_______________

S. 36G(d) amended by No. 35/1994 s. 9(b).

S. 36H inserted by No. 31/1993 s. 6.

s. 36H


30

PART 3B—FINANCIAL OBLIGATIONS OF VICTORIAN HOUSING BONDS LTD.

36I Definitions

In this Part—

Director means the Director of Housing established as a body corporate under section 9 of the Housing Act 1983;

financial accommodation means a financial benefit or assistance to obtain a financial benefit arising from or as a result of—

(a) a loan;

(b) issuing, endorsing or otherwise dealing in promissory notes;

(c) drawing, accepting, endorsing or otherwise dealing in bills of exchange;

(d) issuing, purchasing or otherwise dealing in securities;

(e) granting or taking a lease of any real or personal property for financing but not for operating purposes;

(f) issuing bonds under an instrument referred to in section 36O;

financial arrangement means an arrangement entered into for the purpose of managing, lessening, hedging or protecting against movements in currency exchange, interest or discount rates or other costs of obtaining financial accommodation;

Pt 3B (Heading and ss 36I–36O) inserted by No. 61/1995 s. 16.

S. 36I inserted by No. 61/1995 s. 16.

s. 36I


31

financial obligation, in relation to VHB, means—

(a) in relation to a bond issued by VHB under an instrument referred to in section 36O, the liability of VHB to pay any principal, interest or other moneys owing in relation to the bond on the due date within the meaning of the instrument;

(b) in relation to any other financial accommodation obtained, or financial arrangement entered into, by VHB, the liability of VHB to make payment in respect of that financial accommodation or financial arrangement;

security includes inscribed stock and debenture, bond, debenture stock, notes or any other document creating, evidencing or acknowledging indebtedness in respect of financial accommodation, whether or not constituting a charge on property;

VHB means Victorian Housing Bonds Limited A.C.N. 006 955 577.

36J Crown bound

This Part binds the Crown, not only in right of the State but also, so far as the legislative power of the Parliament permits, the Crown in all its other capacities.

36K Financial obligations of VHB

(1) The Governor in Council, on the recommendation of the Treasurer, may, by Order published in the Government Gazette, declare that the financial obligations of VHB, or financial obligations included in a class of financial obligations of VHB, specified in the Order, being financial

S. 36Jinserted by No. 61/1995 s. 16.

s. 36J

S. 36Kinserted by No. 61/1995 s. 16.


32

obligations that are governed by the law of Victoria, are to be taken to be liabilities of the Corporation.

(2) On the publication of an Order under subsection (1)—

(a) all rights of VHB in and in respect of the financial accommodation or a financial arrangement to which the financial obligations specified in the Order relate vest in the Corporation; and

(b) all financial obligations of VHB in respect of that financial accommodation or financial arrangement become obligations of the Corporation; and

(c) VHB ceases to have any rights or obligations in respect of that financial accommodation or financial arrangement; and

(d) any rights or obligations in respect of that financial accommodation or financial arrangement which are not assumed by the Corporation under this Part are extinguished; and

(e) in the case of a financial obligation relating to financial accommodation which is evidenced by an instrument, the instrument has effect as if it were a security issued by the Corporation.

(3) Despite the making of an Order under subsection (1) relating to financial obligations of VHB—

(a) the Director must pay to the Corporation such amounts, and at such times, as VHB would have been liable to pay in respect of those financial obligations if the Order had

S. 36K(2)(c) amended by No. 74/2000 s. 3(Sch. 1 item 131).

s. 36K


33

not been made, except in so far as the Corporation and the Director otherwise agree; and

(b) the Corporation must pay to the Director such amounts, and at such times, as VHB would have been entitled to receive in respect of the financial obligations if the Order had not been made, except in so far as the Corporation and the Director otherwise agree.

(4) An amount payable under subsection (3) may be recovered in a court of competent jurisdiction as a debt due to the Corporation or the Director as the case requires.

36L Guarantee

(1) The due satisfaction of amounts—

(a) payable by the Corporation as a result of or in connection with the operation of section 36K; or

(b) payable by the Director under section 36K(3)(a)—

including, without limiting the generality of the foregoing, the payment of expenses of enforcing or obtaining or endeavouring to enforce or obtain such satisfaction is guaranteed by the Government of Victoria.

(2) Any sums required by the Treasurer in fulfilling any liability arising under a guarantee referred to in subsection (1) shall be paid out of the Consolidated Fund (which is hereby to the necessary extent appropriated accordingly).

(3) Any sums received or recovered by the Treasurer from the Corporation or the Director or otherwise in respect of any sums paid by the Treasurer under

S. 36L inserted by No. 61/1995 s. 16.

s. 36L


34

a guarantee referred to in subsection (1) shall be paid into the Consolidated Fund.

(4) A guarantee referred to in subsection (1) may be enforced against the Crown by a proceeding under Part II of the Crown Proceedings Act 1958.

36M Validity of things done

Nothing in this Part or done or suffered under this Part—

(a) is to be regarded as placing any person in breach of contract or confidence or as otherwise making any person guilty of a civil wrong; or

(b) is to be regarded as placing any person in breach of or as constituting a default under any Act or other law or any provision in any agreement, arrangement or understanding including, without limiting the generality of the foregoing, any provision prohibiting, restricting or regulating the assignment or transfer of any right or liability or the disclosure of any information; or

(c) is to be regarded as fulfilling any condition which allows a person to terminate any agreement or obligation or modifying the operation or effect of any agreement or requiring any money to be paid, or declaring any money to be payable before its stated maturity; or


36N Corporation to be party to certain proceedings

(1) If, immediately before the publication of an Order under section 36K, VHB was a party to proceedings relating to or affecting a transferred financial obligation, the Corporation is to be taken

S. 36M inserted by No. 61/1995 s. 16.

s. 36M

S. 36N inserted by No. 61/1995 s. 16.


35

to be a party to those proceedings either in substitution for VHB or as an additional party, as the case requires.

(2) In this section transferred financial obligation means a financial obligation the rights or liabilities under which, by operation of or under this Part, are rights and liabilities of, or are assumed by, the Corporation.

36O Instruments under which bonds issued

For the purposes of paragraph (f) of the definition of financial accommodation, bonds were issued under the following instruments—

Date Instrument Parties

20 September 1988 (as amended by Amending Deed dated 27 October 1988)

Trust Deed Inflation Indexed Bonds

VHB and The Perpetual Executors and Trustees Association of Australia Limited

25 May 1989 Trust Deed Capital Indexed Bonds

VHB and The Perpetual Executors and Trustees Association of Australia Limited

5 July 1990 Trust Deed Victorian Housing Bonds Fixed Rate Bonds

VHB and Perpetual Trustees Victoria Limited.

_______________

S. 36O inserted by No. 61/1995 s. 16.

s. 36O


36

PART 4—DEBT RETIREMENT

37 Assets and liabilities of Victorian Debt Retirement Fund

(1) On 1 July 1995—

(a) the amount standing to the credit of the Victorian Debt Retirement Fund established under the Victorian Debt Retirement Fund Act 1990 and all assets of the Fund vest in the Corporation; and

(b) all liabilities of the Fund, or of the Corporation in respect of the Fund, become liabilities of the Corporation; and

(c) all investments of the Fund held by the Corporation vest in the Corporation.

38 Appropriation for further debt retirement

There may be paid to the Corporation such amounts as the Treasurer from time to time determines to reduce the liability of the State to the Corporation in respect of financial accommodation provided by the Corporation and the Consolidated Fund is hereby to the necessary extent appropriated accordingly.

Pt 4 (Heading and ss 37–39) amended by Nos 31/1993 s. 7(b), 35/1994 s. 9(c), repealed by No. 31/1994 s. 4(Sch. 2 item 95), new Pt 4 (Heading and ss 37, 38) inserted by No. 24/1995 s. 7.

New s. 37 inserted by No. 24/1995 s. 7.

s. 37

New s. 38 inserted by No. 24/1995 s. 7.


37

* * * * *

_______________

S. 39 repealed by No. 31/1994 s. 4(Sch. 2 item 95).

s. 39


38

PART 5—GENERAL

40 Exemption from Freedom of Information Act 1982

The Corporation is not, and is not eligible to be declared to be, an agency or prescribed authority within the meaning of the Freedom of Information Act 1982.

41 Securities of Corporation lawful investment

(1) Subject to subsection (2), in addition to any other powers of investment—

(a) a trustee, unless expressly forbidden by the instrument (if any) creating the trust; and

(b) a public authority—

may invest money—

(c) in securities issued by the Corporation or by VicFin; or

(d) in bills of exchange accepted by the Corporation or by VicFin; or

(e) on deposit with the Corporation.

(2) Subsection (1) does not authorise a trustee to invest money as mentioned in that subsection unless the repayment of the money so invested is guaranteed by or on behalf of the Government of Victoria.

42 Owner of security not responsible for application of money

A person advancing money to the Corporation and receiving in consideration of that advance any securities issued by the Corporation is not bound to inquire into the application of the money advanced and is not in any way responsible for its non-application or misapplication.

s. 40


39

43 No notice of trust receivable

A participating authority or the Corporation or any officer of a participating authority or the Corporation must not be taken to have received any notice of trust, whether express, implied or constructive, or to be required to see to the execution of any trust in relation to any securities issued by the Corporation or VicFin.

44 Regulations

(1) The Governor in Council may make regulations for or with respect to—

(a) prescribing bodies and trustees as bodies and trustees to which this Act applies;

(b) any other matter or thing required or permitted by this Act to be prescribed or necessary to be prescribed to give effect to this Act.

(2) Regulations made under this section may be disallowed in whole or in part by resolution of either House of the Parliament.

* * * * *

_______________

s. 43

S. 44(2) amended by No. 78/2010 s. 24(Sch. 1 item 34.1).

S. 44(3) repealed by No. 78/2010 s. 24(Sch. 1 item 34.2).


40

PART 6—TRANSITIONAL

45 Corporation to become successor in law of VicFin

On the commencement of this section—

(a) all property and rights of VicFin, wherever located, vest in the Corporation; and

(b) all liabilities of VicFin, wherever located, become liabilities of the Corporation; and

(c) the Corporation becomes the successor in law of VicFin; and

(d) VicFin ceases to exist.

46 VicFin instruments

(1) Each VicFin instrument continues to have effect according to its tenor on and after the commencement of this section as if a reference in the instrument to VicFin were a reference to the Corporation.

(2) In this section, VicFin instrument means an instrument (including a legislative instrument other than this Act) subsisting immediately before the commencement of this section—

(a) given by VicFin or to which VicFin was a party; or

(b) that was given to or in favour of VicFin; or

(c) that refers to VicFin; or

(d) under which—

(i) money is, or may become, payable to or by VicFin; or

(ii) other property is to be, or may become liable to be, transferred to or by VicFin.

s. 45


41

(3) A guarantee in force under section 31 of the Victorian Public Authorities Finance Act 1984 immediately before the commencement of this section in relation to a VicFin instrument continues in force in relation to that instrument.

(4) Section 34 applies in respect of a guarantee continued in force by subsection (3) as if the guarantee had been given under this Act.

47 Pending proceedings

Where, immediately before the commencement of this section, proceedings (including arbitration proceedings) to which VicFin was a party were pending or existing in any court or tribunal, then, on and after that commencement, the Corporation is substituted for VicFin as a party to the proceedings and has the same rights in the proceedings as VicFin had.

48 Participating authorities

A body that, immediately before the commencement of this section, was a participating authority within the meaning of, or for the purposes of, the Victorian Public Authorities Finance Act 1984 is to be taken to be a body that is accepted by the Corporation at that commencement as a participating authority for the purposes of this Act.

49 Regulations under VicFin Act

Regulations in force under the Victorian Public Authorities Finance Act 1984 immediately before the commencement of this section are deemed to be regulations made under this Act and may be amended or revoked as if so made.

s. 47


42

50 General Manager of VicFin

The person holding office as the General Manager of VicFin immediately before the commencement of this section is deemed to have been appointed under section 24 as the first chief executive officer of the Corporation for a term ending on the same day as the day on which the appointment as General Manager ends or at the expiration of 5 years from the commencement of this section, whichever first occurs, and otherwise on the same terms and conditions as those on which the person was appointed as General Manager of VicFin.

50A Validation

(1) If, before the commencement of section 45, VicFin entered into, or purported to enter into, a transaction or arrangement for, with or on behalf of a person, body or entity that was not, or may not have been, a participating authority within the meaning of the Victorian Public Authorities Finance Act 1984, the transaction or arrangement is to be taken to have been authorised, and may be enforced, as if it were a transaction or arrangement that VicFin had been authorised to enter into under that Act.

(2) The validity of an act or transaction of the Corporation, as the successor in law of VicFin, shall not be called into question in any proceedings on the ground that a person, body or entity was not, or may not have been, a participating authority within the meaning of the Victorian Public Authorities Finance Act 1984 when VicFin entered into, or purported to enter into, a transaction or agreement for, with or on behalf of that person, body or entity.

s. 50

S. 50A inserted by No. 35/1994 s. 5.


43

(3) Nothing in this section—

(a) is to be regarded as placing the Corporation, the State or any other person in breach of contract or confidence or as otherwise making the Corporation, the State or any other person guilty of a civil wrong; or

(b) is to be regarded as placing a person in breach of or as constituting a default under any Act or other law or any provision of an agreement, arrangement or understanding including, without limiting the generality of the foregoing, any provision prohibiting, restricting or regulating the assignment or transfer of any right or liability or the disclosure of any information; or

(c) is to be regarded as fulfilling any condition which allows a person to terminate any agreement or obligation or modifying the effect of any agreement or requiring any money to be paid, or declaring any money to be payable before its stated maturity; or


50B Supreme Court—limitation of jurisdiction

It is the intention of this section to alter or vary section 85 of the Constitution Act 1975 to the extent necessary to prevent the Supreme Court entertaining proceedings in respect of a matter referred to in section 50A.

__________________

* * * * *

__________________

S. 50B inserted by No. 35/1994 s. 5.

s. 50B

Pt 7 (Heading and ss 51–57) repealed by No. 31/1993 s. 8.


44

SCHEDULE 1

PUBLIC AUTHORITIES

Column 1Name

Column 2Constituting Act

Gas Transmission Corporation

Gas Industry Act 1994

GASCOR Gas Industry (Residual Provisions) Act 1994

Melbourne Water Corporation

Melbourne Water Corporation Act 1992 and Melbourne and Metropolitan Board of Works Act 1958

State Electricity Commission ofVictoria

State Electricity Commission Act 1958

VENCorp Electricity Industry Act 2000 and Gas Industry Act 2001

Generation Victoria Electricity Industry Act 1993

National Electricity Electricity Industry Act 1993

A public distribution company within the meaning of the Electricity Industry (Residual Provisions) Act 1993

Electricity Industry (Residual Provisions) Act 1993

A public generation company within the meaning of the Electricity Industry (Residual Provisions) Act 1993

Electricity Industry (Residual Provisions) Act 1993

Port of Melbourne Corporation

Transport Integration Act 2010

Victorian Regional Channels Authority

Transport Integration Act 2010

Victorian Rail Track Transport Integration Act 2010

Sch. 1 inserted by No. 31/1993 s. 9, amended by Nos 130/1993 s. 122(Sch. 4 item 15.2), 53/1994 s. 34(Sch. 1 item 10.2(a)(b)), 110/1994 s. 41(Sch. 1 item 10.2(a)(b)), 112/1994 s. 114(Sch. 5 item 11.2), 31/1995 s. 52(Sch. 1 item 10.2), 82/1995 s. 195(2), 79/1996 s. 59(2), 71/1997s. 33(2), 104/1997s. 57(2), 98/1998 s. 49(2), 63/1999 s. 15(2)(a)–(f), 69/2000 s. 64(2)(3), 29/2001 s. 11(2)(a)(b), 32/2001 s. 40(2)(a)(b), 34/2003 s. 16(3)(b), 59/2003 s. 125(2), 23/2003 s. 31(2), 85/2003 s. 35(b), 6/2010 s. 203(1)(Sch. 6 items 47.2, 47.3) (as amended by No. 45/2010 s. 22), 45/2010 s. 57.

Sch. 1


45

Column 1Name

Column 2Constituting Act

V/Line Corporation Transport Integration Act 2010

Victorian Urban Development Authority

Victorian Urban Development Authority Act 2003

═══════════════

Sch. 1


46

ENDNOTES

1. General InformationMinister's second reading speech—

Legislative Assembly: 4 November 1992

Legislative Council: 10 November 1992

The long title for the Bill for this Act was "A Bill to establish the Treasury Corporation of Victoria, to repeal the Victorian Public Authorities Finance Act 1984, to make consequential amendments to certain Acts and for other purposes.".

The Treasury Corporation of Victoria Act 1992 was assented to on 24 November 1992 and came into operation on 1 January 1993: Special Gazette (No. 69) 23 December 1992 page 1.

Endnotes


47

2. Table of AmendmentsThis Version incorporates amendments made to the Treasury Corporation of Victoria Act 1992 by Acts and subordinate instruments.

–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––Treasury Corporation of Victoria (Debt Centralisation) Act 1993, No. 31/1993

Assent Date: 25.5.93Commencement Date: 25.5.93Current State: All of Act in operation

Electricity Industry Act 1993, No. 130/1993Assent Date: 14.12.93Commencement Date: S. 122(Sch. 4 items 15.1, 15.2) on 3.1.94: Special

Gazette (No. 97) 23.12.93 p. 1Current State: This information relates only to the provision/s

amending the Treasury Corporation of Victoria Act 1992

Financial Management Act 1994, No. 18/1994Assent Date: 10.5.94Commencement Date: Pt 1 (ss 1–8), ss 60, 61 on 10.5.94: s. 2(1); rest of Act

on 1.7.94: s. 2(2)Current State: All of Act in operation

Financial Management (Consequential Amendments) Act 1994, No. 31/1994Assent Date: 31.5.94Commencement Date: Ss 1, 2 on 31.5.94: s. 2(1); s. 3, Sch. 1 (except item 60)

on 7.7.94: Government Gazette 7.7.94 p. 1878—see Interpretation of Legislation Act 1984; s. 4 Sch. 2 on 1.1.95: Government Gazette 28.7.94 p. 2055; Sch. 1 item 60 was never proclaimed, repealed by No. 75/1994 s. 13

Current State: All of Act in operationTreasury Corporation of Victoria (Amendment) Act 1994, No. 35/1994

Assent Date: 31.5.94Commencement Date: S. 5 on 1.1.93: s. 2(2); s. 8 on 1.7.94: s. 2(3); rest of

Act on 31.5.94: s. 2(1)Current State: All of Act in operation

Electricity Industry (Amendment) Act 1994, No. 53/1994Assent Date: 15.6.94Commencement Date: Sch. 1 item 10 on 3.10.94: s. 2(4A); s. 34 on 3.10.94:

Special Gazette (No. 64) 27.9.94 p. 1Current State: This information relates only to the provision/s


Endnotes


48

Electricity Industry (Further Amendment) Act 1994, No. 110/1994Assent Date: 20.12.94Commencement Date: S. 41(Sch. 1 items 10.1, 10.2(a)(b)) on 20.12.94:

Special Gazette (No. 100) 20.12.94 p. 1Current State: This information relates only to the provision/s


Gas Industry Act 1994, No. 112/1994Assent Date: 20.12.94Commencement Date: S. 114(Sch. 5 items 11.1, 11.2) on 20.12.94: Special



Water Industry Act 1994, No. 121/1994Assent Date: 20.12.94Commencement Date: Ss 1, 2 on 20.12.94: s. 2(1); rest of Act on 1.1.95:

Special Gazette (No. 105) 23.12.94 p. 1Current State: All of Act in operation

Treasury Corporation of Victoria (Amendment) Act 1995, No. 24/1995Assent Date: 16.5.95Commencement Date: All of Act (except s. 8(3)) on 1.7.95: s. 2(1)Current State: This information relates only to the provision/s


Gas and Fuel Corporation (Repeal) Act 1995, No. 31/1995Assent Date: 6.6.95Commencement Date: S. 52(Sch. 1 items 10.1, 10.2) on 21.6.95: Special



Grain Handling and Storage Act 1995, No. 45/1995Assent Date: 14.6.95Commencement Date: S. 38 on 14.6.95: Special Gazette (No. 49) 14.6.95 p. 1Current State: This information relates only to the provision/s


Electricity Industry (Amendment) Act 1995, No. 56/1995Assent Date: 20.6.95Commencement Date: S. 68(Sch. 1 item 4) on 20.6.95: Special Gazette

(No. 52) 20.6.95 p. 1Current State: This information relates only to the provision/s


Endnotes


49

Treasury Corporation of Victoria (Housing Finance) Act 1995, No. 61/1995Assent Date: 20.6.95Commencement Date: Ss 16, 17 on 21.12.95: s. 2(3)Current State: This information relates only to the provision/s


Port Services Act 1995, No. 82/1995Assent Date: 28.11.95Commencement Date: S. 195 on 14.12.95: Government Gazette 14.12.95

p. 3488—see Interpretation of Legislation Act 1984Current State: This information relates only to the provision/s


Miscellaneous Acts (Omnibus Amendments) Act 1995, No. 100/1995Assent Date: 5.12.95Commencement Date: S. 10(1)(Sch. 1 items 7.1, 7.2) on 30.4.96: Special



Miscellaneous Acts (Further Omnibus Amendments) Act 1996, No. 73/1996Assent Date: 17.12.96Commencement Date: Ss 98, 99 on 17.12.96: s. 2(1)Current State: This information relates only to the provision/s


Rail Corporations Act 1996, No. 79/1996Assent Date: 17.12.96Commencement Date: S. 59 on 1.3.97: Special Gazette (No. 11) 28.1.97 p. 1Current State: This information relates only to the provision/s


Electricity Industry (Miscellaneous Amendment) Act 1997, No. 35/1997Assent Date: 3.6.97Commencement Date: S. 31(1) on 3.6.97 Special Gazette (No. 58) 3.6.97 p. 1Current State: This information relates only to the provision/s


Urban Land Corporation Act 1997, No. 71/1997Assent Date: 18.11.97Commencement Date: S. 33 on 3.2.98: Special Gazette (No. 5) 3.2.98 p. 5Current State: This information relates only to the provision/s


Endnotes


50

Gas Industry (Further Amendment) Act 1997, No. 91/1997Assent Date: 9.12.97Commencement Date: S. 52 on 11.12.97: Special Gazette (No. 155) 9.12.97

p. 1Current State: This information relates only to the provision/s


Rail Corporations (Amendment) Act 1997, No. 104/1997Assent Date: 16.12.97Commencement Date: S. 57 on 11.6.98: Government Gazette 11.6.98 p. 1314Current State: This information relates only to the provision/s


Public Sector Reform (Miscellaneous Amendments) Act 1998, No. 46/1998Assent Date: 26.5.98Commencement Date: S. 7(Sch. 1) on 1.7.98: s. 2(2)Current State: This information relates only to the provision/s


Rail Corporations (Further Amendment) Act 1998, No. 98/1998Assent Date: 24.11.98Commencement Date: S. 49 on 29.4.99: Government Gazette 29.4.99 p. 967Current State: This information relates only to the provision/s


Rail Corporations and Transport Acts (Miscellaneous Amendments) Act 1999, No. 63/1999

Assent Date: 21.12.99Commencement Date: S. 15 on 1.1.01: s. 2(3)Current State: This information relates only to the provision/s


Electricity Industry Legislation (Miscellaneous Amendments) Act 2000, No. 69/2000

Assent Date: 21.11.00Commencement Date: S. 64 on 1.1.01: s. 2(4)Current State: This information relates only to the provision/s


Statute Law Revision Act 2000, No. 74/2000Assent Date: 21.11.00Commencement Date: S. 3(Sch. 1 item 131) on 22.11.00: s. 2(1)Current State: This information relates only to the provision/s


Endnotes


51

Urban Land Corporation (Amendment) Act 2001, No. 29/2001Assent Date: 12.6.01Commencement Date: S. 11 on 1.7.01: Government Gazette 21.6.01 p. 1338Current State: This information relates only to the provision/s


Gas Industry Legislation (Miscellaneous Amendments) Act 2001, No. 32/2001Assent Date: 19.6.01Commencement Date: S. 40 on 1.9.01: s. 2(2)Current State: This information relates only to the provision/s


Port Services (Port of Melbourne Reform) Act 2003, No. 23/2003Assent Date: 13.5.03Commencement Date: S. 31 on 3.11.03: Government Gazette 30.10.03



Transport (Miscellaneous Amendments) Act 2003, No. 34/2003Assent Date: 27.5.03Commencement Date: S. 16(3) on 15.7.03: Special Gazette (No. 138) 15.7.03



Victorian Urban Development Authority Act 2003, No. 59/2003Assent Date: 16.6.03Commencement Date: S. 125 on 1.8.03: Government Gazette 31.7.03 p. 2125Current State: This information relates only to the provision/s


Port Services (Port Management Reform) Act 2003, No. 85/2003Assent Date: 11.11.03Commencement Date: S. 35 on 1.4.04: Government Gazette 1.4.04 p. 714Current State: This information relates only to the provision/s


Public Administration Act 2004, No. 108/2004Assent Date: 21.12.04Commencement Date: S. 117(1)(Sch. 3 item 212) on 5.4.05: Government

Gazette 31.3.05 p. 602Current State: This information relates only to the provision/s


Endnotes


52

Statute Law (Further Revision) Act 2006, No. 29/2006Assent Date: 6.6.06Commencement Date: S. 3(Sch. 1 item 37) on 7.6.06: s. 2(1)Current State: This information relates only to the provision/s


Public Sector Acts (Further Workplace Protection and Other Matters) Act 2006, No. 80/2006

Assent Date: 10.10.06Commencement Date: S. 26(Sch. item 105) on 11.10.06: s. 2(1)Current State: This information relates only to the provision/s


Transport Integration Act 2010, No. 6/2010 (as amended by No. 45/2010)Assent Date: 2.3.10Commencement Date: S. 203(1)(Sch. 6 item 47) on 1.7.10: Special Gazette

(No. 256) 30.6.10 p. 1Current State: This information relates only to the provision/s


Transport Legislation Amendment (Ports Integration) Act 2010, No. 45/2010Assent Date: 17.8.10Commencement Date: S. 57 on 1.9.10: Special Gazette (No. 337) 24.8.10 p. 1Current State: This information relates only to the provision/s


Subordinate Legislation Amendment Act 2010, No. 78/2010Assent Date: 19.10.10Commencement Date: S. 24(Sch. 1 item 34) on 1.1.11: s. 2(1)Current State: This information relates only to the provision/s


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Endnotes


53

3. Explanatory Details

Endnotes


54

1 S. 36A def. of public authority: amended by Nos 130/1993 s. 122(Sch. 4 item 15.1), 53/1994 s. 34(Sch. 1 item 10.1), 110/1994 s. 41(Sch. 1 item 10.1), 112/1994 s. 114(Sch. 5 item 11.1), 121/1994 s. 215, 31/1995 s. 52(Sch. 1 item 10.1), 45/1995 s. 38, 56/1995 s. 68(Sch. 1 item 4), 82/1995 s. 195(1), 100/1995 s. 10(1)(Sch. 1 item 7.2(b)), 79/1996 s. 59(1), 35/1997 s. 31(1), 91/1997s. 52, 71/1997s. 33(1), 104/1997s. 57(1), 98/1998 s. 49(1), 63/1999 s. 15(1)(a)–(f), 69/2000 s. 64(1)(a)(b), 29/2001 s. 11(1), 32/2001 s. 40(1), 34/2003 s. 16(3)(a), 59/2003 s. 125(1), 23/2003 s. 31(1)(a)(b), 85/2003 s. 35(a), 6/2010 s. 203(1)(Sch.6 item 47.1) (as amended by No. 45/2010 s. 22).

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