Borrowing and Investment Powers Act 1987FILE/87-13a100.docx · Web view(2)If the Treasurer executes a certificate in or to the effect of the prescribed form relating to the provision

Version No. 100

Borrowing and Investment Powers Act 1987No. 13 of 1987

Version incorporating amendments as at1 November 2017

TABLE OF PROVISIONSSection Page

Part 1—Preliminary 1

1 Purpose 12 Commencement 13 Definitions 13A Application of sections of this Act 4

Part 2—Borrowing powers 5

Division 1—General 5

4 General borrowing authorisation 5

Division 2—Financial accommodation 5

5 Financial accommodation by way of overdraft in Australia 58 Financial accommodation in Australia 69 Financial accommodation within or outside Australia 610 Financial leases 611 Financial arrangements 611AA Limited validation of certain financial transactions 711AB Assumption of certain obligations and rights 8

Division 3—Guarantees 8

12 Guarantee of overdraft certified by Treasurer 813 Statutory guarantee 914 Guarantee of financial accommodation 1014A Guarantee of certain obligations 1015 Guarantee of financial arrangements 1116 Appropriation for guarantee 1117 Assignment and enforcement of guarantees 11

Division 4—Miscellaneous 12

17A Application of Act to certain authorities under the Water Act 1989 12

17AB Application of Act to TAFE institutes 1217B Application to State instrumentalities 12

1

18 Regulations with respect to securities 13

Part 3—Investment powers 15

Division 1—Preliminary 15

19 General investment authorisation 15

Division 2—Investment 15

20 Power to invest moneys 1520A Limited validation of certain investments 1521 Trading in investments 1622 Underwriting 17

Part 4—Consequential amendments and transitional provisions 18

26 Transitional provisions 1827 Enforcement of guarantees given before commencement of

section 19

Part 5—Guarantees etc. for economic development projects 20

28 Definitions 2029 Treasurer may execute guarantee etc. 2130 Provisions applying to guarantees etc. under this Part 22

Schedules 24

Schedule 1 24

═══════════════

Endnotes 38

1 General information 38

2 Table of Amendments 40

3 Amendments Not in Operation 54

4 Explanatory details 55

2

Version No. 100


Version incorporating amendments as at1 November 2017

The Parliament of Victoria enacts as follows:

Part 1—Preliminary1 Purpose

The purpose of this Act is to make provision for borrowing and investment powers for certain statutory bodies.

2 Commencement

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

3 Definitions

(1) In this Act—

arrangement means any agreement, arrangement, understanding, promise or undertaking whether express or implied or any transaction;

Australia means the Commonwealth of Australia and includes the territories of the Commonwealth;

authorised deposit-taking institution has the same meaning as in the Banking Act 1959 of the Commonwealth;

1

S. 3(1) def. of authorised deposit-taking institution inserted by No. 11/2001 s. 3(Sch. item 7.1(a)).

authority means a body, person or persons specified in column 1 of an item in Schedule 1;

* * * * *

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) any other arrangement that the Governor in Council on the recommendation of the Treasurer approves;

financial arrangement means an arrangement establishing rights and obligations to receive or deliver property the value of which, or to receive or make a payment in an amount which, or the value of which—

2

S. 3(1) def. of authority amended by Nos 99/1993 s. 5, 100/1995 s. 4(1).

S. 3(1) def. of bank amended by No. 99/1993 s. 9, repealed by No. 11/2001 s. 3(Sch. item 7.1(b)).

S. 3(1) def. of financial arrangement substituted by No. 100/1995 s. 4(3).

(a) depends on, or is derived from, the value, or price, at a particular future time or during a particular future period, of particular property, rights or liabilities; or

(b) depends on, or is derived by reference to, a particular rate, index or other factor at a particular future time or during a particular future period;

invest includes acquisition, sale or divestment of an investment and entering into a transaction or arrangement for the protection or enhancement of investments;

lease means—

(a) any lease, licence, charter or hiring arrangement of any real or personal property; or

(b) any arrangement under which a right to use, operate, manage or provide services in respect of any real or personal property is granted by the owner to another person;

prescribed means prescribed by the regulations;

property means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description;

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 constituting a charge on property of an authority or not.

3

S. 3(1) def. of invest amended by No. 56/2016 s. 14.

S. 3(1) def. of property inserted by No. 100/1995 s. 4(2).

(2) An approval given under this Act may be given unconditionally or subject to such conditions as the Governor in Council or the Treasurer, as the case may be, thinks fit.

3A Application of sections of this Act

The sections of this Act specified in column 2 of an item in Schedule 1 apply to the authority specified in column 1 of that item.

4

S. 3A inserted by No. 99/1993 s. 6.

Part 2—Borrowing powers1

Division 1—General4 General borrowing authorisation

An authority may, for the purpose of performing its functions or exercising its powers—

(a) exercise any power conferred on it by this Part; and

(b) with the approval of the Governor in Council on the recommendation of the Treasurer, do anything necessary for, or incidental to, the exercise of any power conferred on it by this Part.

Division 2—Financial accommodation5 Financial accommodation by way of overdraft in

Australia

An authority to which this section applies may, with the approval of the Treasurer, obtain a financial benefit or assistance to obtain a financial benefit by way of overdraft of account at any authorised deposit-taking institution or other financial institution in Australia.

* * * * *

* * * * *

S. 5 amended by Nos 78/1988 s. 4(a), 64/1991 s. 10(a), 99/1993 s. 7(a), 100/1995 s. 5, 11/2001 s. 3(Sch. item 7.2).

S. 6 amended by Nos 64/1991 s. 10(b), 99/1993 s. 7(b), repealed by No. 100/1995 s. 6.

S. 7 amended by No. 99/1993 s. 7(c), repealed by No. 100/1995 s. 6.

Part 1—Preliminary


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8 Financial accommodation in Australia

(1) An authority to which this section applies may, with the approval of the Treasurer, obtain financial accommodation within Australia.

(2) An authority to which this section applies may not obtain financial accommodation under this section by granting or taking a lease of real or personal property.

9 Financial accommodation within or outside Australia

(1) An authority to which this section applies may, with the approval of the Treasurer, obtain financial accommodation within or outside Australia.

(2) An authority to which this section applies may not obtain financial accommodation under this section by granting or taking a lease of real or personal property.

10 Financial leases

An authority to which this section applies may, with the approval of the Treasurer, obtain financial accommodation within or outside Australia under an arrangement under which or as part of which the authority enters into a lease of the whole or any part of real or personal property.

11 Financial arrangements

An authority to which this section applies—

(a) may, with the approval of the Treasurer, enter into and perform financial arrangements to hedge, protect or manage the value of its assets or liabilities, or prospective assets or liabilities, against movements in—

S. 8 amended by Nos 78/1988 s. 4(b), 64/1991 s. 10(a), 99/1993 s. 7(d), substituted by No. 100/1995 s. 6.

S. 9 amended by No. 99/1993 s. 7(e), substituted by No. 100/1995 s. 6.

S. 10 amended by Nos 78/1988 s. 4(c), 99/1993 s. 7(f).

S. 11 amended by Nos 64/1991 s. 10(b), 99/1993 s. 7(g), substituted by No. 100/1995 s. 7.



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(i) currency rates, interest rates, prices of shares, property or commodities; or

(ii) any other rates, costs or other factors specified by the Treasurer, including rates, costs or other factors that affect, or could affect, the value of its assets or liabilities or prospective assets or liabilities; and

(b) may, with the approval of the Treasurer enter into financial arrangements to acquire or dispose of assets or liabilities.

11AA Limited validation of certain financial transactions

(1) If—

(a) an authority to which this section applies entered into, or purported to enter into, a financial transaction that was not, or may not have been, a financial arrangement of a kind that the authority was authorised to enter into under section 4 and 11 or section 11; and

(b) another party to the financial transaction entered into the financial transaction in good faith and with no reason to suspect, at the time of entering into the financial transaction, that the transaction was not a financial arrangement of a kind that the authority was authorised to enter into under section 4 and 11 or section 11—

the financial transaction may be enforced as if it were a financial arrangement which the authority had been authorised to enter into.

(2) Subsection (1) applies in relation to transactions entered into whether before or after the commencement of section 4 of the Borrowing and Investment Powers (Further Amendment) Act 1991.

S. 11AA inserted by No. 31/1991 s. 4, amended by No. 99/1993 s. 7(h).



7

11AB Assumption of certain obligations and rights

An authority to which this section applies may assume obligations and rights under or in connection with financial accommodation obtained by another person and any security for that financial accommodation if—

(a) the arrangements under which the other person obtained the financial accommodation or gave the security include provision for such an assumption by the authority; or

(b) all the parties to those arrangements and the authority agree in writing to the assumption by the authority—

and the Treasurer gives approval in writing.

* * * * *

Division 3—Guarantees12 Guarantee of overdraft certified by Treasurer

(1) This section applies in relation to the provision to an authority to which this section applies of a financial benefit, or assistance to obtain a financial benefit, referred to in section 5.

S. 11AB inserted by No. 85/1994 s. 3.

Pt 2 Div. 2A (Heading and s. 11A) inserted by No. 78/1988 s. 5, amended by Nos 61/1992 s. 3, 99/1993 ss 7(i)(j), 10, 31/1995 s. 52(Sch. 1 items 1.1, 1.2), repealed by No. 40/2013 s. 3(1).

S. 12(1) amended by Nos 78/1988 s. 6(a), 64/1991 s. 10(c), 99/1993 s. 7(k).



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(2) If the Treasurer executes a certificate in or to the effect of the prescribed form relating to the provision to an authority of a financial benefit or assistance to obtain a financial benefit referred to in section 5, the due satisfaction of amounts payable by the authority as a result of or in connection with the provision to the authority of the financial benefit or assistance 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.

13 Statutory guarantee

(1) This section applies in relation to the provision to an authority to which this section applies (other than Victorian Power Exchange, Generation Victoria or National Electricity) of—

(a) a financial benefit or assistance to obtain a financial benefit referred to in section 5; or

(b) financial accommodation—

* * * * *

(ii) to which section 8 or 9 applies, unless the Treasurer executes a guarantee under section 14 in relation to the financial accommodation.

(2) The due satisfaction of amounts payable by an authority as a result of or in connection with the provision to the authority of financial accommodation including, without limiting the generality of the foregoing, the payment of expenses of enforcing or obtaining or

S. 13(1) amended by Nos 99/1993 s. 7(l), 130/1993 s. 119(2)(a), 110/1994 s. 34(a).

S. 13(1)(b)(i) repealed by No. 100/1995 s. 8(1).



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endeavouring to enforce or obtain such satisfaction is guaranteed by the Government of Victoria.

14 Guarantee of financial accommodation

(1) This section applies in relation to the provision to an authority to which this section applies of financial accommodation to which section 8, 9 or 10 applies.

(2) The Treasurer may, on behalf of the Government of Victoria, execute a guarantee on such terms and conditions as the Treasurer determines in favour of any person or body of persons guaranteeing the due satisfaction of amounts that become payable and of other actions required to be performed as a result of or in connection with the provision to the authority of financial accommodation including, without limiting the generality of the foregoing, the payment of expenses of enforcing or obtaining or endeavouring to enforce or obtain such satisfaction.

14A Guarantee of certain obligations

(1) This section applies in relation to the assumption by an authority to which this section applies of obligations and rights in accordance with section 11AB.

(2) The Treasurer may, on behalf of the Government of Victoria, execute a guarantee on such terms and conditions as the Treasurer determines in favour of any person or body of persons guaranteeing the due satisfaction of amounts that become payable and of other actions required to be performed as a result of or in connection with the provision by the authority of obligations and rights in accordance with section 11AB including, without limiting the generality of the foregoing, the payment of

S. 14(1) amended by Nos 78/1988 s. 6(b), 64/1991 s. 10(a), 99/1993 s. 7(m).




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expenses of enforcing or obtaining or endeavouring to enforce or obtain such satisfaction.

15 Guarantee of financial arrangements

(1) This section applies in relation to an authority to which this section applies which has entered into a financial arrangement to which section 11 applies.

(2) If the Treasurer executes a certificate in or to the effect of the prescribed form relating to a financial arrangement entered into by an authority the due satisfaction of all amounts which become payable including, without limiting the generality of the foregoing, the payment of the expenses of enforcing or obtaining or endeavouring to enforce or obtain such satisfaction, is guaranteed by the Government of Victoria.

16 Appropriation for guarantee

(1) Any sums required by the Treasurer in fulfilling any liability arising under a guarantee by or on behalf of the Government of Victoria provided by this Division or given under this Division 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 an authority or otherwise in respect of any sums paid by the Treasurer under a guarantee shall be paid into the Consolidated Fund.

17 Assignment and enforcement of guarantees

(1) The whole or any part of the benefit of a guarantee under this Division may be assigned by the person entitled to the benefit for the time being, unless the terms and conditions of the guarantee otherwise provide.

S. 15(1) amended by Nos 64/1991 s. 10(b), 99/1993 s. 7(n).



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(2) A guarantee under this Part 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.

Division 4—Miscellaneous17A Application of Act to certain authorities under the

Water Act 19892

(1) In this section—

Authority has the same meaning as in the Water Act 1989 but does not include the Rural Water Corporation.

(2) The Governor in Council, by Order published in the Government Gazette, may declare that sections of this Act specified in the Order apply to an Authority specified in the Order.

17AB Application of Act to TAFE institutes

(1) The Governor in Council, by Order published in the Government Gazette, may declare that sections of this Act specified in the Order apply to a TAFE institute specified in the Order.

(2) In this section TAFE institute has the same meaning as it has in section 1.1.3(1) of the Education and Training Reform Act 2006.

17B Application to State instrumentalities

(1) In this section—

public authority means—

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

(b) 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 a Minister;


S. 17A(2) substituted by No. 45/1997 s. 6.

S. 17AB inserted by No. 76/2013 s. 29.

S. 17B inserted by No. 45/1997 s. 7.



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(c) a body corporate established under section 14 of the State Owned Enterprises Act 1992.

(2) The Governor in Council, by Order published in the Government Gazette, may declare that sections of this Act specified in the Order apply to a public authority specified in the Order.

(3) In addition to the powers conferred on it by or under the Act by or under which it is established, a public authority specified in an Order in force under subsection (2) has the powers conferred on it by the sections of this Act specified in the Order.

18 Regulations with respect to securities

(1) The Governor in Council may make regulations for the purposes of this Part for or with respect to any of the following—

(a) the form of securities issued under this Part in Australia;

(b) the issue of securities under this Part in Australia;

(c) the rights attached to securities issued under this Part in Australia;

(d) the keeping of registers of securities issued under this Part in Australia;

(e) fees payable for inspection of or to obtain copies of or extracts from registers kept in Australia of securities issued under this Part in Australia;

(f) the sale and transfer of securities issued under this Part in Australia;



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

(2) Regulations made under this Part—

(a) may be of general or specially limited application; and

(b) may differ according to differences in time, place or circumstance.



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Part 3—Investment powers

Division 1—Preliminary19 General investment authorisation

An authority may, for the purpose of performing its functions or exercising its powers—

(a) exercise any power conferred on it by this Part; and

(b) with the approval of the Governor in Council on the recommendation of the Treasurer, do anything necessary for, or incidental to, the exercise of any power conferred on it by this Part.

Division 2—Investment20 Power to invest moneys

An authority to which this section applies may, with the approval of the Treasurer, invest moneys of the authority in any manner approved by the Governor in Council on the recommendation of the Treasurer in relation to the authority.

20A Limited validation of certain investments

(1) If—

(a) an authority to which this section applies entered into, or purported to enter into, a transaction or arrangement in the exercise of a power of investment that was not, or may not have been, a power of a kind that the authority was authorised to exercise under section 19 and 20 or section 20; and

S. 20 amended by Nos 78/1988 s. 6(c), 64/1991 s. 10(a), 99/1993 s. 7(o).

S. 20A inserted by No. 31/1991 s. 5, amended by No. 99/1993 s. 7(p).



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(b) another party to the transaction or arrangement entered into the transaction or arrangement in good faith and with no reason to suspect, at the time of entering into the transaction or arrangement, that the transaction or arrangement was not entered into by the authority in the exercise of a power of investment of a kind that the authority was authorised to exercise under section 19 and 20 or section 20—

the transaction or arrangement may be enforced as if it had been entered into by the authority in the exercise of a power of investment under section 19 and 20 or section 20.

(2) Subsection (1) applies in relation to transactions and arrangements entered into whether before or after the commencement of section 5 of the Borrowing and Investment Powers (Further Amendment) Act 1991.

21 Trading in investments

An authority to which this section applies and to which the Governor in Council on the recommendation of the Treasurer has given approval for the purposes of this section, may exercise any power in relation to investments that a natural person may exercise and, without limiting the generality of the foregoing—

(a) may sell, barter, exchange or otherwise dispose of or get in any of its investments; and

(b) may vary or transpose any of its investments for other investments in which the authority is authorised to invest.

S. 21 amended by Nos 78/1988 s. 6(d), 64/1991 s. 10(a), 99/1993 s. 7(q).



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22 Underwriting

An authority to which this section applies may, with the approval of the Governor in Council on the recommendation of the Treasurer, underwrite or sub-underwrite the issue by a body corporate or unincorporate of any shares, units in a unit trust or securities in which the authority is authorised to invest.

S. 22 amended by Nos 64/1991 s. 10(b), 99/1993 s. 7(r).



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Part 4—Consequential amendments and transitional provisions

* * * * *

26 Transitional provisions

(1) A provision of an Act amended by section 23 continues to apply to or in respect of—

(a) moneys borrowed or re-borrowed, loans, advances and financial accommodation obtained and financial arrangements entered into and any other thing done under borrowing powers or powers to obtain financial accommodation conferred by the Act before the commencement of that section; and

(b) moneys borrowed or re-borrowed, loans, advances and financial accommodation obtained and any other thing done under borrowing powers or powers to obtain financial accommodation conferred by the Act after that commencement, pursuant to arrangements entered into before that commencement—

as if that section had not been enacted.

(2) A provision of an Act amended by section 24 continues to apply to or in respect of the investment of moneys or exercise of powers made before the commencement of that section as if that section had not been enacted.

Ss 23–25 repealed by No. 99/1993 s. 12(1).



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27 Enforcement of guarantees given before commencement of section

A guarantee given by or on behalf of the Government or State of Victoria or by the Treasurer and in force under an Act before the commencement of this section 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.



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Part 5—Guarantees etc. for economic development projects

28 Definitions

In this Part—

development includes establishment, continuation, increase, facilitation, encouragement or promotion;

industry includes—

(a) the production of goods and services in Victoria;

(b) manufacturing or processing in Victoria;

(c) the provision of employment opportunities in Victoria;

(d) the export of Victorian produce, products or services, whether or not outside Australia;

(e) the promotion of Victorian goods and services;

(f) tourism and tourist accommodation and other facilities for tourists in Victoria;

(g) any activity within Victoria approved by the Treasurer as an industry for the purposes of this Part.

Pt 5 (Heading and ss 28–30) inserted by No. 99/1993 s. 4.

S. 28 inserted by No. 99/1993 s. 4.



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29 Treasurer may execute guarantee etc.

(1) The Treasurer, on such terms and conditions as the Treasurer thinks fit, may execute a guarantee in favour of a person or body (not being a co-operative under the Co-operatives National Law (Victoria))—

(a) in respect of money advanced or to be advanced or other credit facilities provided—

(i) to assist in the development of an industry or class of industry; or

(ii) to re-pay or re-finance money previously borrowed to assist in the development of an industry or class of industry; or

(b) in respect of the performance of any obligation by a person or body under an agreement or contract relating to the development of an industry or class of industry.

(2) The Treasurer, on such terms and conditions as the Treasurer thinks fit, may execute an indemnity or covenant in favour of a person or body (not being a co-operative under the Co-operatives National Law (Victoria)) in respect of any expense, loss, damage, cost or liability incurred or that may be incurred by that person or body under or in respect of an agreement or contract relating to, or in respect of anything done in connection with, the development of an industry or class of industry.


S. 29(1) amended by Nos 84/1996 s. 467(Sch. 6 item 4.1), 9/2013 s. 42(Sch. 2 item 4).

S. 29(2) amended by Nos 84/1996 s. 467(Sch. 6 item 4.2), 9/2013 s. 42(Sch. 2 item 4).



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30 Provisions applying to guarantees etc. under this Part

(1) If the Treasurer so determines, a guarantee, indemnity or covenant under this Part may include interest charges and expenses chargeable by the creditor against the debtor and the expenses of enforcing or obtaining, or endeavouring to enforce or obtain, payment of the debt to which the guarantee, indemnity or covenant relates and those interest charges and expenses.

(2) The Treasurer may require the creditor to which a guarantee, indemnity or covenant under this Part relates to hold securities of such nature as the Treasurer requires for the payment of the debt or the performance of other obligations to which the guarantee, indemnity or covenant relates.

(3) The Treasurer may secure from the debtor to which a guarantee, indemnity or covenant under this Part relates an indemnity against loss suffered as a result of the failure of the debtor to pay the debt or perform the other obligations to which the guarantee, indemnity or covenant relates and hold securities of such nature as the Treasurer requires in respect of the indemnity.

(4) A guarantee, indemnity or covenant under this Part is not enforceable against the Treasurer unless and until the creditor, to the satisfaction of the Treasurer, has exercised the creditor's rights under all securities, if any, held by or for the creditor in respect of the debt or other obligation to which the guarantee, indemnity or covenant relates, other than the guarantee, indemnity or covenant itself.

(5) The creditor must not, without the consent in writing of the Treasurer, assign or encumber the




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benefit of a guarantee, indemnity or covenant under this Part.

(6) Such sums as may from time to time become due and payable by the Treasurer under a guarantee, indemnity or covenant under this Part shall be paid out of the Consolidated Fund which is hereby to the necessary extent appropriated accordingly.



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Schedules

Schedule 1

ItemColumn 1Authority

Column 2Sections that apply

1AAA. Aboriginal Heritage Council 5, 8, 11, 12, 14, 15, 20, 20A and 21

1AA. Australian Centre for the Moving Image

5, 8, 11, 13, 20, 20A, 21

1. Construction Industry Long Service Leave Board

5, 11, 11AA, 12, 20, 20A, 21, 22

Sch. 1 amended by Nos 33/1988 s. 53, 81/1988 s. 40(1)(a)(b), 13/1989 s. 12, 20/1989 s. 42(4), 64/1991 s. 10(d), 110/1993 s. 22(2)(3), substituted by No. 99/1993 s. 8 (as amended by No. 4/1994 s. 3).

Sch. 1 item 1AAA inserted by No. 93/1997 s. 24, repealed by No. 53/1999 s. 26(Sch. item 2), new Sch. 1 item 1AAA inserted by No. 11/2016 s. 135.

Sch. 1 item 1AA inserted by No. 2/1997 s. 31, substituted by No. 87/2001 s. 59(a).

Sch. 1 item 1 amended by No. 100/1995 s. 8(2)(a).



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1A. Council of Trustees of the National Gallery of Victoria

5, 8, 11, 12, 20, 20A and 21

2. Country Fire Authority 5, 8, 11, 11AA, 12, 14, 15, 20, 20A, 21

* * * * *

3. Emergency Services Superannuation Board

5, 8, 11, 11AA, 12, 14, 15, 20, 20A, 21, 22

3A. Energy Safe Victoria 5, 8, 10, 11, 11AA, 12, 14, 15, 20, 20A and 21

4. Film Victoria 5, 8, 11, 13, 20, 20A, 21

4A. Gas Transmission Corporation

5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

Sch. 1 item 1A inserted by No. 61/1996 s. 88(a).

Sch. 1 item 2 amended by No. 100/1995 s. 8(2)(b).

Sch. 1 item 2A inserted by No. 100/1995 s. 8(3), repealed by No. 59/2003 s. 116(a).

Sch. 1 item 3 amended by No. 100/1995 s. 8(2)(c).

Sch. 1 item 3A inserted by No. 39/2005 s. 53(1).

Sch. 1 item 4 repealed by No. 31/1995 s. 52(Sch. 1 item 1.3), new Sch. 1 item 4 inserted by No. 87/2001 s. 59(b).

Sch. 1 item 4A inserted by No. 112/1994 s. 113, amended by No. 100/1995 s. 8(2)(d).



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4B. GASCOR 5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

* * * * *

6. Director of Housing 5, 8, 10, 11, 11AA, 13, 14, 15, 20, 20A, 21

6A. Library Board of Victoria 5, 8, 11, 12, 20, 20A and 21

6AA. Linking Melbourne Authority 5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

6B. Melbourne 2006 Commonwealth Games Corporation

5, 8, 10, 11, 11AA, 11AB, 12, 14, 14A, 15, 20, 20A and 21.

* * * * *

Sch. 1 item 4B inserted by No. 112/1994 s. 113, amended by No. 100/1995 s. 8(2)(d).

Sch. 1 item 5 amended by No. 100/1995 s. 8(2)(e), repealed by No. 84/1998 s. 31(2).

Sch. 1 item 6 amended by No. 100/1995 s. 8(2)(f).

Sch. 1 item 6A inserted by No. 61/1996 s. 88(b).

Sch. 1 item 6AA inserted by No. 6/2010 s. 203(1) (Sch. 6 item 3.1) (as amended by No. 45/2010 s. 22).

Sch. 1 item 6B inserted by No. 64/2003 s. 10.

Sch. 1 item 7 amended by No. 100/1995 s. 8(2)(g), repealed by No. 43/1998 s. 50.



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7AA. Melbourne and Olympic Parks Trust

5, 8, 10, 12, 14, 20, 21.

7A. Victorian Ports Corporation (Melbourne)

5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

7B. Port of Hastings Development Authority

5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

8. Melbourne Water Corporation

5, 8, 9, 10, 11, 11AA, 13, 14, 15, 20, 20A, 21

* * * * *

* * * * *

* * * * *

Sch. 1 item 7AA inserted by No. 56/1997 s. 12.

Sch. 1 item 7A inserted by No. 82/1995 s. 194(1), amended by Nos 45/1997 s. 8, 23/2003 s. 25, 10/2016 s. 179(Sch. 1 item 1).

Sch. 1 item 7B inserted by No. 38/2011 s. 35.Sch. 1 item 8 amended by Nos 100/1995 s. 8(2)(h), 40/2013 s. 3(2)(a).

Sch. 1 item 8A inserted by No. 104/1997 s. 40, repealed by No. 63/1999 s. 14(a).

Sch. 1 item 8B inserted by No. 104/1997 s. 40, repealed by No. 63/1999 s. 14(b).

Sch. 1 item 8C inserted by No. 104/1997 s. 40, repealed by No. 63/1999 s. 14(c).



27



* * * * *

9. Metropolitan Fire Brigades Board

5, 8, 11, 11AA, 12, 14, 15, 20, 20A, 21

9A. Museums Board of Victoria 5, 8, 11, 12, 20 20A and 21

* * * * *

* * * * *

* * * * *

11. Port of Melbourne Authority 5, 8, 10, 11, 11AA, 13, 14, 15, 20, 20A, 21

11AA. Registrar of Housing Agencies

5, 8, 10, 11, 11AA, 13, 14, 15, 20, 20A, 21

Sch. 1 item 8D inserted by No. 104/1997 s. 40, repealed by No. 63/1999 s. 14(d).

Sch. 1 item 9 amended by No. 100/1995 s. 8(2)(i).

Sch. 1 item 9A inserted by No. 61/1996 s. 88(c).

Sch. 1 item 9B inserted by No. 99/1997 s. 122, repealed by No. 39/2005 s. 53(2).

Sch. 1 item 9C inserted by No. 25/1998 s. 168, repealed by No. 39/2005 s. 53(2).

Sch. 1 item 10 inserted by No. 100/1995 s. 8(4), repealed by No. 10/2005 s. 3(Sch. 1 item 3).

Sch. 1 item 11 amended by No. 100/1995 s. 8(2)(i).

Sch. 1 item 11AA inserted by No. 106/2004 s. 16.



28



11A. Residential Tenancies Bond Authority

5, 8, 11, 11AA, 20, 20A and 21

12. Rural Water Corporation 5, 8, 9, 10, 11, 11AA, 13, 14, 15, 20, 20A, 21

* * * * *

* * * * *

14. State Electricity Commission of Victoria

5, 8, 9, 10, 11, 11AA, 13, 14, 15, 20, 20A, 21

* * * * *

16. State Insurance Office 5, 11, 11AA, 12, 20, 20A, 21, 22

Sch. 1 item 11A inserted by No. 109/1997 s. 531.

Sch. 1 item 12 amended by No. 100/1995 s. 8(2)(j).

Sch. 1 item 12A inserted by No. 25/2003 s. 26, repealed by No. 6/2010 s. 202(3).

Sch. 1 item 13 repealed by No. 120/1994 s. 80, new Sch. 1 item 13 inserted by No. 45/1999 s. 46, amended by No. 95/2005 s. 12(1), repealed by No. 26/2009 s. 13.Sch. 1 item 14 amended by Nos 100/1995 s. 8(2)(j), 40/2013 s. 3(2)(b).

Sch. 1 item 15 repealed by No. 120/1994 s. 80.

Sch. 1 item 16 amended by No. 100/1995 s. 8(2)(k).



29



* * * * *

17A. Public Transport Corporation 5, 8, 10, 11, 11AA, 11AB, 12, 13, 14, 14A, 15, 20, 20A and 21

18. Transport Accident Commission

5, 8, 11, 11AA, 13, 14, 20, 21, 22

19. Transport Infrastructure Development Agent

5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

20. Treasury Corporation of Victoria

Subject to the Treasury Corporation of Victoria Act 1992, 5, 8, 9, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A, 21, 22

* * * * *

Sch. 1 item 17 repealed by No. 120/1994 s. 80.

Sch. 1 item 17A inserted by No. 85/1994 s. 5, amended by No. 100/1995 s. 8(2)(l).

Sch. 1 item 18 repealed by No. 37/1994 s. 231, new Sch. 1 item 18 inserted by No. 100/1995 s. 8(5).

Sch. 1 item 19 repealed by No. 120/1994 s. 80, new Sch. 1 item 19 inserted by No. 6/2010 s. 204(1).

Sch. 1 item 20 amended by Nos 116/1994 s. 37(1)(a)(b), 100/1995 s. 8(2)(m).

Sch. 1 item 20AA inserted by No. 71/1997 s. 31, amended by No. 29/2001 s. 9, repealed by No. 59/2003 s. 116(a).



30



20AB. VENCorp 5, 8, 9, 10, 11, 11AA, 14, 15, 20, 20A and 21

20A. Victorian Regional Channels Authority

5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

21. Dairy Food Safety Victoria 5, 8, 10, 12, 14, 20, 20A, 21

21A. Victorian Managed Insurance Authority

5, 8, 11, 11AA, 13, 14, 15 20, 20A, 21, 22

22. Victorian Meat Authority 5, 8, 10, 12, 14, 20, 20A, 21

23. Victorian Plantations Corporation

5, 8, 10, 11, 12, 14, 20, 20A, 21

23AA. Victorian Rail Track 5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

23AB Development Victoria 5, 8, 10, 11, 11AA, 11AB, 12, 13, 14, 14A, 15, 20, 20A and 21

Sch. 1 item 20AB inserted by No. 91/1997 s. 42(1).

Sch. 1 item 20A inserted by No. 82/1995 s. 194(2), amended by Nos 45/1997 s. 8, 85/2003 s. 31.

Sch. 1 item 21 amended by No. 37/2000 s. 69.

Sch. 1 item 21A inserted by No. 11/1996 s. 36, amended by No. 56/2016 s. 15(a).

Sch. 1 item 23 amended by No. 73/1996 s. 7.

Sch. 1 item 23AA inserted by No. 79/1996 s. 57(1).

Sch. 1 item 23AB inserted by No. 59/2003 s. 116(b), amended by Nos 35/2011 s. 16, 10/2017 s. 30.



31



23A. Victorian WorkCover Authority

5, 8, 11, 11AA, 13, 14, 20, 21, and 22

23B. V/Line Corporation 5, 8, 10, 11, 11AA, 11AB, 13, 14, 14A, 15, 20, 20A and 21

* * * * *

24. Water Authority declared under section 17A

5, 8, 11, 11AA, 12, 14, 20, 20A, 21

Sch. 1 item 23A inserted by No. 100/1995 s. 8(6).

Sch. 1 item 23B inserted by No. 79/1996 s. 57(2), repealed by No. 63/1999 s. 14(e), new Sch. 1 item 23B inserted by No. 34/2003 s. 16(2), amended by No. 6/2010 s. 203(1)(Sch. 6 item 3.2) (as amended by No. 45/2010 s. 22).

Sch. 1 item 23C inserted by No. 98/1998 s. 44, repealed by No. 63/1999 s. 14(f).

Sch. 1 item 24 amended by No. 100/1995 s. 8(2)(n).



32



* * * * *

25. Government Superannuation Office

5, 11, 11AA, 12, 20, 20A, 21, 22

* * * * *

27. Generation Victoria 5, 8, 9, 10, 11, 11AA, 14, 15, 20, 20A, 21

28. Power Net Victoria 5, 8, 9, 10, 11, 11AA, 14, 15, 20, 20A, 21

30. Victorian Funds Management Corporation

5, 8, 10, 11, 11AA, 13, 14, 15, 20, 20A, 21, 22

Sch. 1 item 24A inserted by No. 121/1994 s. 212, amended by No. 100/1995 s. 8(2)(n), repealed by No. 66/2000 s. 53.

Sch. 1 item 25 amended by Nos 100/1995 s. 8(2)(o), 8/1999 s. 49(2).

Sch. 1 item 26 amended by Nos 53/1994 s. 30, 110/1994 s. 34(b), 100/1995 s. 8(2)(p), repealed by No. 91/1997 s. 42(2).

Sch. 1 item 27 amended by No. 100/1995 s. 8(2)(p).

Sch. 1 item 28 amended by Nos 110/1994 s. 34(c), 100/1995 s. 8(2)(p).

Sch. 1 item 30 inserted by No. 61/1994 s. 41, amended by Nos 100/1995 s. 8(2)(q), 56/2016 s. 15(b).



33



31. Melbourne Convention and Exhibition Trust

5, 8, 10, 11, 11AA, 12, 14, 20, 21

32. Australian Grand Prix Corporation

5, 8, 10, 11, 11AA, 13, 15, 20, 20A, 21

33. Queen Victoria Women's Centre Trust

5, 20, 20A, 21

* * * * *

35. State Sport Centres Trust 5, 8, 13, 20 and 21

Sch. 1 item 31 inserted by No. 41/1994 s. 40, amended by No. 100/1995 s. 8(2)(r), substituted by No. 71/1996 s. 34.

Sch. 1 item 32 inserted by No. 68/1994 s. 52, amended by No. 100/1995 s. 8(2)(r).

Sch. 1 item 33 inserted by No. 103/1994 s. 26.

Sch. 1 item 34 inserted by No. 116/1994 s. 37(2), amended by No. 100/1995 s. 8(2)(r), repealed by No. 81/2000 s. 40.

Sch. 1 item 34 inserted by No. 117/1994 s. 36, substituted as Sch. 1 item 35 by No. 100/1995 s. 8(2)(s), amended by No. 60/1999 s. 19.



34



* * * * *

37. Zoological Parks and Gardens Board

5, 8, 11, 11AA, 12, 14, 15, 20, 20A, and 21

39. Parliamentary Trustee 5, 12, 20, 20A, 21, 22

40. Victorian Curriculum and Assessment Authority

20, 20A and 21

41. Victorian Qualifications Authority

20, 20A and 21

42. 2007 World Swimming Championships Corporation

5, 8, 10, 11, 11AA, 11AB, 12, 14, 14A, 15, 20, 20A and 21

43. Kardinia Park Stadium Trust 5, 8, 10, 11, 12, 13,14, 20 and 21

44. Heritage Council 5, 8, 10, 11, 12, 13,14, 20 and 21

Sch. 1 item 36 inserted by No. 18/1995 s. 23(2), amended by No. 100/1995 s. 8(2)(t), repealed by No. 22/2004 s. 29.

Sch. 1 item 37 inserted by No. 106/1995 s. 50, amended by No. 45/1997 s. 8.









35

* * * * *

* * * * *

* * * * *

* * * * *

* * * * *

Sch. 1A inserted by No. 78/1988 s. 7, amended by Nos 49/1989 s. 140, 88/1992 s. 85, 40/1993 s. 83, 61/1993 s. 37, repealed by No. 99/1993 s. 8.

Sch. 1B inserted by No. 64/1991 s. 10(e), repealed by No. 99/1993 s. 8.

Sch. 2 amended by Nos 81/1989 s. 3(Sch. item 2), 50/1992 s. 10(Sch. item 2), 80/1992 s. 52(a)(i)(ii), 130/1993 s. 119(2)(b), repealed by No. 99/1993 s. 8.

Sch. 2A inserted by No. 78/1988 s. 8, repealed by No. 99/1993 s. 8.

Sch. 3 amended by Nos 33/1988 s. 53, 81/1988 s. 40(1)(a)(b), 13/1989 s. 12, 20/1989 s. 42(4), 64/1991 s. 10(d), 80/1992 s. 52(b)(i)(ii), 110/1993 s. 22(3), repealed by No. 99/1993 s. 8.



36

* * * * *

* * * * *

* * * * *

═══════════════

Sch. 4 amended by Nos 21/1988 s. 60(1), 23/1988 s. 61(9), 50/1988 s. 93(1), repealed by No. 99/1993 s. 12(2).

Sch. 5 amended by Nos 21/1988 s. 60(1), 23/1988 s. 61(9), 50/1988 s. 93(1), repealed by No. 99/1993 s. 12(2).

Sch. 6 amended by Nos 21/1988 s. 60(1), 23/1988 s. 61(9), 50/1988 s. 93(1), 31/1991 s. 6, repealed by No. 99/1993 s. 12(2).



37

Endnotes1 General information

See www.legislation.vic.gov.au for Victorian Bills, Acts and current authorised versions of legislation and up-to-date legislative information.

Minister's second reading speech—

Legislative Assembly: 24 March 1987

Legislative Council: 28 April 1987

The long title for the Bill for this Act was "A Bill to make provision for borrowing and investment powers for certain statutory bodies and for other purposes.".

The Borrowing and Investment Powers Act 1987 was assented to on 12 May 1987 and came into operation as follows:

Parts 1, 3, sections 24, 26(2) on 14 October 1987: Government Gazette 14 October 1987 page 2712; rest of Act on 18 November 1987: Government Gazette 18 November 1987 page 3138.

INTERPRETATION OF LEGISLATION ACT 1984 (ILA)

Style changes

Section 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.

References to ILA s. 39B

Sidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided section or clause of a Schedule is amended by the insertion of one or more subsections or subclauses, the original section or clause becomes subsection or subclause (1) and is amended by the insertion of the expression "(1)" at the beginning of the original section or clause.

Interpretation

As from 1 January 2001, amendments to section 36 of the ILA have the following effects:

• Headings

All headings included in an Act which is passed on or after 1 January 2001 form part of that Act. Any heading inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, forms part of that Act. This includes headings to Parts, Divisions or Subdivisions in a Schedule; sections; clauses; items; tables; columns; examples; diagrams; notes or forms. See section 36(1A)(2A).



38

http://www.legislation.vic.gov.au/

• Examples, diagrams or notes

All examples, diagrams or notes included in an Act which is passed on or after 1 January 2001 form part of that Act. Any examples, diagrams or notes inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, form part of that Act. See section 36(3A).

• Punctuation

All punctuation included in an Act which is passed on or after 1 January 2001 forms part of that Act. Any punctuation inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, forms part of that Act. See section 36(3B).

• Provision numbers

All provision numbers included in an Act form part of that Act, whether inserted in the Act before, on or after 1 January 2001. Provision numbers include section numbers, subsection numbers, paragraphs and subparagraphs. See section 36(3C).

• Location of "legislative items"

A "legislative item" is a penalty, an example or a note. As from 13 October 2004, a legislative item relating to a provision of an Act is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision. For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision. See section 36B.

• Other material

Any explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of an Act. See section 36(3)(3D)(3E).



39

2 Table of AmendmentsThis publication incorporates amendments made to the Borrowing and Investment Powers Act 1987 by Acts and subordinate instruments.

–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

Hospitals Superannuation Act 1988, No. 21/1988Assent Date: 17.5.88Commencement Date: 1.7.88: Government Gazette 18.5.88 p. 1273Current State: All of Act in operation

Local Authorities Superannuation Act 1988, No. 23/1988Assent Date: 17.5.88Commencement Date: Pts 1, 7 on 1.9.87: s. 2(2); rest of Act on 25.5.88:

Government Gazette 25.5.88 p. 1458Current State: All of Act in operation

Transport Superannuation Act 1988, No. 33/1988Assent Date: 17.5.88Commencement Date: 1.7.88: Government Gazette 18.5.88 p. 1273Current State: All of Act in operation

State Superannuation Act 1988, No. 50/1988Assent Date: 24.5.88Commencement Date: S. 93(3) on 1.7.87: s. 2(1); s. 93(4) on 27.11.87:

s. 2(2); Pt 1, Pt 6 Div. 2, s. 91 on 1.1.88: s. 2(3); rest of Act on 1.7.88: Government Gazette 1.6.88 p. 1487

Current State: All of Act in operation

Borrowing and Investment Powers (Amendment) Act 1988, No. 78/1988Assent Date: 20.12.88Commencement Date: S. 10(1) on 18.11.87: s. 2(2); rest of Act on 27.4.89:

Special Gazette (No. 21) 27.4.89 p. 1Current State: All of Act in operation

Superannuation Acts (Amendment) Act 1988, No. 81/1988Assent Date: 20.12.88Commencement Date: Ss 21, 22, 25 on 1.1.88: s. 2(1); ss 5, 10, 29, 31 on

1.7.88: s. 2(2); rest of Act on 20.12.88 s. 2(3)Current State: All of Act in operation

State Insurance Office (Amendment) Act 1989, No. 13/1989Assent Date: 9.5.89Commencement Date: 9.5.89Current State: All of Act in operation

State Casual Employees Superannuation Act 1989, No. 20/1989Assent Date: 16.5.89Commencement Date: 1.7.89: Government Gazette 7.6.89 p. 1358Current State: All of Act in operation



40

Egg Industry Act 1989, No. 49/1989Assent Date: 14.6.89Commencement Date: All of Act (except s. 63) on 2.8.89: Government

Gazette 2.8.89 p. 1907; s. 63 never proclaimed, repealed by No. 47/1993 s. 4


Water (Consequential Amendments) Act 1989, No. 81/1989Assent Date: 5.12.89Commencement Date: 1.11.90: Government Gazette 15.8.90 p. 2473Current State: All of Act in operation

Borrowing and Investment Powers (Further Amendment) Act 1991, No. 31/1991Assent Date: 12.6.91Commencement Date: S. 6 on 12.5.87: s. 2(1); rest of Act on 12.6.91: s. 2(2)Current State: All of Act in operation

Emergency Services Superannuation (MFBSF Transfer) Act 1991, No. 64/1991Assent Date: 19.11.91Commencement Date: All of Act (except ss 7–9) on 20.11.91: Government

Gazette 20.11.91 p. 3146; s. 7 on 1.1.92: s. 2(2); s. 8 on 1.7.91: s. 2(3); s. 9 on 9.9.92: Government Gazette 9.9.92 p. 2634


Water (Rural Water Corporation) Act 1992, No. 50/1992Assent Date: 30.6.92Commencement Date: 1.7.92: Government Gazette 1.7.92 p. 1629Current State: All of Act in operation

Borrowing and Investment Powers (Melbourne Water Corporation) Act 1992, No. 61/1992

Assent Date: 17.11.92Commencement Date: 17.11.92Current State: All of Act in operation

Treasury Corporation of Victoria Act 1992, No. 80/1992Assent Date: 24.11.92Commencement Date: 1.1.93: Special Gazette (No. 69) 23.12.92 p. 1Current State: All of Act in operation

Dairy Industry Act 1992, No. 88/1992Assent Date: 26.11.92Commencement Date: 24.12.92: Special Gazette (No. 70) 24.12.92 p. 1Current State: All of Act in operation

Meat Industry Act 1993, No. 40/1993Assent Date: 1.6.93Commencement Date: S. 83 on 30.6.93: Government Gazette 24.6.93 p. 1596Current State: This information relates only to the provision/s

amending the Borrowing and Investment Powers Act 1987



41

Victorian Plantations Corporation Act 1993, No. 61/1993Assent Date: 8.6.93Commencement Date: Ss 1–3 on 8.6.93: s. 2(1); rest of Act on 1.7.93:


Borrowing and Investment Powers (Amendment) Act 1993, No. 99/1993 (as amended by No. 4/1994)

Assent Date: 23.11.93Commencement Date: Ss 1–3 on 23.11.93: s. 2(1); rest of Act on 23.5.94:

s. 2(3)Current State: All of Act in operation

Public Sector Superannuation (Administration) Act 1993, No. 110/1993 (as amended by No. 4/1994)

Assent Date: 30.11.93Commencement Date: S. 22 on 30.11.93: s. 2(1)Current State: This information relates only to the provision/s


Electricity Industry Act 1993, No. 130/1993 (as amended by No. 4/1994)Assent Date: 14.12.93Commencement Date: S. 119 on 14.12.93: s. 2(1)Current State: This information relates only to the provision/s


Gaming and Betting Act 1994, No. 37/1994Assent Date: 2.6.94Commencement Date: S. 231 on 2.6.95: s. 2(3)Current State: This information relates only to the provision/s


Melbourne Exhibition Centre Act 1994, No. 41/1994Assent Date: 7.6.94Commencement Date: S. 40 on 18.8.94: Government Gazette 18.8.94 p. 2240Current State: This information relates only to the provision/s


Electricity Industry (Amendment) Act 1994, No. 53/1994Assent Date: 15.6.94Commencement Date: S. 30 on 3.10.94: Special Gazette (No. 64) 27.9.94 p. 1Current State: This information relates only to the provision/s




42

Victorian Funds Management Corporation Act 1994, No. 61/1994Assent Date: 15.6.94Commencement Date: S. 41 on 19.7.94: Special Gazette (No. 50) 19.7.94 p. 1Current State: This information relates only to the provision/s


Australian Grands Prix Act 1994, No. 68/1994Assent Date: 25.10.94Commencement Date: Pt 1 (ss 1–6) on 25.10.94: s. 2(1); rest of Act on

28.10.94: Government Gazette 27.10.94 p. 2854Current State: This information relates only to the provision/s


Borrowing and Investment Powers (Public Transport Corporation) Act 1994, No. 85/1994

Assent Date: 6.12.94Commencement Date: 6.12.94Current State: All of Act in operation

Queen Victoria Women's Centre Act 1994, No. 103/1994Assent Date: 13.12.94Commencement Date: Ss 1, 2 on 13.12.94: s. 2(1); rest of Act on 15.6.95:


Electricity Industry (Further Amendment) Act 1994, No. 110/1994Assent Date: 20.12.94Commencement Date: S. 34 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. 113 on 20.12.94: Special Gazette (No. 100)

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


Melbourne City Link Authority Act 1994, No. 116/1994Assent Date: 20.12.94Commencement Date: Pt 1 (ss 1–6) on 20.12.94: s. 2(1); rest of Act on

22.12.94: Government Gazette 22.12.94 p. 3385Current State: All of Act in operation

Melbourne Sports and Aquatic Centre Act 1994, No. 117/1994Assent Date: 20.12.94Commencement Date: Ss 1, 2 on 20.12.94: s. 2(1); rest of Act on 1.6.95:




43

Superannuation Acts (Further Amendment) Act 1994, No. 120/1994Assent Date: 20.12.94Commencement Date: S. 80 on 20.12.94: s. 2(1)Current State: This information relates only to the provision/s


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:


Australian Food Industry Science Centre Act 1995, No. 18/1995Assent Date: 16.5.95Commencement Date: Pt 1 (ss 1–4) on 16.5.95: s. 2(1); rest of Act on 1.6.95:


Gas and Fuel Corporation (Repeal) Act 1995, No. 31/1995Assent Date: 6.6.95Commencement Date: S. 52(Sch. 1 items 1.1–1.3) on 21.6.95: Special

Gazette (No. 49) 14.6.95 p. 1Current State: This information relates only to the provision/s


Port Services Act 1995, No. 82/1995Assent Date: 28.11.95Commencement Date: S. 194 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: Ss 3–8 on 30.4.96: Special Gazette (No. 45) 30.4.96



Zoological Parks and Gardens Act 1995, No. 106/1995Assent Date: 5.12.95Commencement Date: S. 50 on 30.4.96: Special Gazette (No. 45) 30.4.96 p. 1Current State: This information relates only to the provision/s




44

Superannuation Acts (Amendment) Act 1996, No. 4/1996Assent Date: 18.6.96Commencement Date: S. 76 on 30.6.96: s. 2(12)Current State: This information relates only to the provision/s


Victorian Managed Insurance Authority Act 1996, No. 11/1996Assent Date: 25.6.96Commencement Date: S. 36 on 1.10.96: Special Gazette (No. 115) 1.10.96



Arts Institutions (Amendment) Act 1996, No. 61/1996Assent Date: 17.12.96Commencement Date: S. 88(a)–(c) on 6.2.97: Government Gazette 6.2.97

p. 257—see Interpretation of Legislation Act 1984Current State: This information relates only to the provision/s


Melbourne Convention and Exhibition Trust Act 1996, No. 71/1996Assent Date: 17.12.96Commencement Date: S. 34 on 5.2.97: Special Gazette (No. 16) 5.2.97 p. 1Current State: This information relates only to the provision/s


Miscellaneous Acts (Further Omnibus Amendments) Act 1996, No. 73/1996Assent Date: 17.12.96Commencement Date: S. 7 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. 57(1)(2) on 1.3.97: Special Gazette (No. 11)



Co-operatives Act 1996, No. 84/1996Assent Date: 23.12.96Commencement Date: S. 467(Sch. 6 item 4) on 1.10.97: Special Gazette

(No. 122) 1.10.97 p. 1Current State: This information relates only to the provision/s




45

Cinemedia Corporation Act 1997, No. 2/1997Assent Date: 22.4.97Commencement Date: S. 31 on 1.7.97: s. 2(3)Current State: This information relates only to the provision/s


Miscellaneous Acts (Omnibus No. 3) Act 1997, No. 45/1997Assent Date: 11.6.97Commencement Date: Pt 4 (ss 5–8) on 11.6.97: s. 2(1)Current State: This information relates only to the provision/s


Melbourne and Olympic Parks (Amendment) Act 1997, No. 56/1997Assent Date: 21.10.97Commencement Date: S. 12 on 1.11.97: s. 2(3)Current State: This information relates only to the provision/s


Urban Land Corporation Act 1997, No. 71/1997Assent Date: 18.11.97Commencement Date: S. 31 on 3.2.98: Special Gazette (No. 5) 3.2.98 p. 5Current State: This information relates only to the provision/s


Gas Industry (Further Amendment) Act 1997, No. 91/1997Assent Date: 9.12.97Commencement Date: S. 42 on 11.12.97: Special Gazette (No. 155) 9.12.97



Audit (Amendment) Act 1997, No. 93/1997Assent Date: 16.12.97Commencement Date: S. 24 on 16.12.97: s. 2(1)Current State: This information relates only to the provision/s


Gas Safety Act 1997, No. 99/1997Assent Date: 16.12.97Commencement Date: S. 122 on 1.2.99: Government Gazette 21.1.99 p. 80Current State: This information relates only to the provision/s




46

Rail Corporations (Amendment) Act 1997, No. 104/1997Assent Date: 16.12.97Commencement Date: S. 40 on 11.6.98: Government Gazette 11.6.98 p. 1314Current State: This information relates only to the provision/s


Residential Tenancies Act 1997, No. 109/1997Assent Date: 23.12.97Commencement Date: S. 531 on 1.7.98: Government Gazette 18.6.98 p. 1512Current State: This information relates only to the provision/s


Electricity Safety Act 1998, No. 25/1998Assent Date: 12.5.98Commencement Date: S. 168 on 1.7.98: Special Gazette (No. 65) 30.6.98 p. 2Current State: This information relates only to the provision/s


Miscellaneous Acts (Omnibus No. 1) Act 1998, No. 43/1998Assent Date: 26.5.98Commencement Date: S. 50 on 1.7.98: s. 2(4)Current State: This information relates only to the provision/s


Superannuation Acts (Amendment) Act 1998, No. 84/1998Assent Date: 17.11.98Commencement Date: S. 31(2) on 1.1.99: 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. 44 on 29.4.99: Government Gazette 29.4.99 p. 967Current State: This information relates only to the provision/s


Government Superannuation Act 1999, No. 8/1999Assent Date: 11.5.99Commencement Date: S. 49(2) on 1.7.99: s. 2(1)Current State: This information relates only to the provision/s




47

Rail Corporations and Transport Acts (Amendment) Act 1999, No. 45/1999Assent Date: 8.6.99Commencement Date: S. 46 on 1.7.00: s. 2(3)Current State: This information relates only to the provision/s


Audit (Amendment) Act 1999, No. 53/1999Assent Date: 14.12.99Commencement Date: S. 26(Sch. item 2) on 1.1.00: Government Gazette



Melbourne Sports and Aquatic Centre (Amendment) Act 1999, No. 60/1999Assent Date: 21.12.99Commencement Date: S. 19 on 3.2.00: Government Gazette 3.2.00 p. 169Current State: This information relates only to the provision/s


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



Dairy Act 2000, No. 37/2000Assent Date: 6.6.00Commencement Date: S. 69 on 30.9.00: Government Gazette 28.9.00 p. 2375Current State: This information relates only to the provision/s


Water Industry (Amendment) Act 2000, No. 66/2000Assent Date: 8.11.00Commencement Date: S. 53 on 1.12.01: s. 2(4)Current State: This information relates only to the provision/s


Melbourne City Link (Miscellaneous Amendments) Act 2000, No. 81/2000Assent Date: 28.11.00Commencement Date: S. 40 on 1.3.02: Special Gazette (No. 37) 26.2.02 p. 1Current State: This information relates only to the provision/s




48

Victorian Curriculum and Assessment Authority Act 2000, No. 96/2000Assent Date: 5.12.00Commencement Date: S. 22 on 1.3.01: Government Gazette 1.3.01 p. 303Current State: This information relates only to the provision/s


Victorian Qualifications Authority Act 2000, No. 97/2000Assent Date: 5.12.00Commencement Date: S. 35 on 1.3.01: Government Gazette 1.3.01 p. 304Current State: This information relates only to the provision/s


Statute Law Amendment (Authorised Deposit-taking Institutions) Act 2001, No. 11/2001

Assent Date: 8.5.01Commencement Date: S. 3(Sch. item 7) on 1.6.01: s. 2(2)Current State: This information relates only to the provision/s


Urban Land Corporation (Amendment) Act 2001, No. 29/2001Assent Date: 12.6.01Commencement Date: S. 9 on 1.7.01: Government Gazette 21.6.01 p. 1338Current State: This information relates only to the provision/s


Film Act 2001, No. 87/2001Assent Date: 11.12.01Commencement Date: S. 59 on 1.1.02: Government Gazette 13.12.01 p. 3063Current 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. 25 on 3.11.03: Government Gazette 30.10.03



Southern and Eastern Integrated Transport Authority Act 2003, No. 25/2003Assent Date: 13.5.03Commencement Date: S. 26 on 1.7.03: Special Gazette (No. 118) 17.6.03 p. 1Current State: This information relates only to the provision/s




49

Transport (Miscellaneous Amendments) Act 2003, No. 34/2003Assent Date: 27.5.03Commencement Date: S. 16(2) 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. 116 on 1.8.03: Government Gazette 31.7.03 p. 2125Current State: This information relates only to the provision/s


Commonwealth Games Arrangements (Governance) Act 2003, No. 64/2003Assent Date: 30.9.03Commencement Date: S. 10 on 7.10.03: Special Gazette (No. 182) 7.10.03

p. 1Current State: This information relates only to the provisions


Port Services (Port Management Reform) Act 2003, No. 85/2003Assent Date: 11.11.03Commencement Date: S. 31 on 1.4.04: Government Gazette 1.4.04 p. 714Current State: This information relates only to the provision/s


Primary Industries Legislation (Miscellaneous Amendments) Act 2004, No. 22/2004

Assent Date: 18.5.04Commencement Date: S. 29 on 1.7.04: Government Gazette 24.6.04 p. 1742Current State: This information relates only to the provision/s


World Swimming Championships Act 2004, No. 95/2004Assent Date: 7.12.04Commencement Date: S. 89 on 16.2.05: Government Gazette 10.2.05 p. 217Current State: This information relates only to the provision/s


Housing (Housing Agencies) Act 2004, No. 106/2004Assent Date: 21.12.04Commencement Date: S. 16 on 1.1.05: s. 2(1)Current State: This information relates only to the provision/s




50

Statute Law Revision Act 2005, No. 10/2005Assent Date: 27.4.05Commencement Date: S. 3(Sch. 1 item 3) on 28.4.05: s. 2Current State: This information relates only to the provision/s


Energy Safe Victoria Act 2005, No. 39/2005Assent Date: 27.7.05Commencement Date: S. 53 on 10.8.05: Special Gazette (No. 147) 9.8.05



Transport Legislation (Further Miscellaneous Amendments) Act 2005, No. 95/2005

Assent Date: 29.11.05Commencement Date: S. 12(1) on 13.12.05: Special Gazette (No. 254)



Transport Legislation General Amendments Act 2009, No. 26/2009Assent Date: 17.6.09Commencement Date: S. 13 on 31.7.09: Special Gazette (No. 259) 28.7.09



Transport Integration Act 2010, No. 6/2010 (as amended by No. 45/2010)Assent Date: 2.3.10Commencement Date: Ss 202(3), 203(1)(Sch. 6 item 3), 204(1) on 1.7.10:

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


Victorian Urban Development Authority Amendment (Urban Renewal Authority Victoria) Act 2011, No. 35/2011

Assent Date: 5.7.11Commencement Date: S. 16 on 25.10.11: Special Gazette (No. 342) 25.10.11





51

Transport Legislation Amendment (Port of Hastings Development Authority) Act 2011, No. 38/2011



Co-operatives National Law Application Act 2013, No. 9/2013Assent Date: 13.3.13Commencement Date: S. 42(Sch. 2 item 4) on 3.3.14: Special Gazette



Borrowing and Investment Powers Amendment Act 2013, No. 40/2013Assent Date: 28.6.13Commencement Date: S. 3 on 28.6.13: s. 2Current State: All of Act in operation

Education and Training Reform Amendment (Dual Sector Universities) Act 2013, No. 76/2013



Kardinia Park Stadium Act 2016, No. 7/2016Assent Date: 1.3.16Commencement Date: S. 48 on 16.3.16: Special Gazette (No. 55) 15.3.16



Delivering Victorian Infrastructure (Port of Melbourne Lease Transaction) Act 2016, No. 10/2016

Assent Date: 22.3.16Commencement Date: S. 179(Sch. 1 item 1) on 1.11.16: Special Gazette



Aboriginal Heritage Amendment Act 2016, No. 11/2016



52



Victorian Funds Management Corporation Amendment Act 2016, No. 56/2016Assent Date: 18.10.16Commencement Date: Ss 14, 15 on 1.1.17: Special Gazette (No. 346)



Heritage Act 2017, No. 7/2017Assent Date: 15.3.17 Commencement Date: S. 295 on 1.11.17: s. 2(2)Current State: This information relates only to the provision/s


Urban Renewal Authority Victoria Amendment (Development Victoria) Act 2017, No. 10/2017

Assent Date: 27.3.17Commencement Date: S. 30 on 1.4.17: Special Gazette (No. 94) 27.3.17 p. 1Current State: This information relates only to the provision/s


–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––



53

3 Amendments Not in OperationThere are no amendments which were Not in Operation at the date of this publication.



54

4 Explanatory details



55

1 Pt 2: Section 9 of the Miscellaneous Acts (Omnibus Amendments) Act 1995, No. 100/1995 reads as follows:

9Transitional

(1) An approval of the Treasurer under section 6 or 8 of the Principal Act as in force immediately before the commencement of this subsection has effect, on and after that commencement, as an approval of the Treasurer under section 8 of the Principal Act as amended by this Part.

(2) An approval of the Treasurer under section 7 or 9 of the Principal Act as in force immediately before the commencement of this subsection has effect, on and after that commencement, as an approval of the Treasurer under section 9 of the Principal Act as amended by this Part.

(3) An approval of the Treasurer under section 11 of the Principal Act as in force immediately before the commencement of this subsection has effect, on and after that commencement, as an approval of the Treasurer under that section of the Principal Act as amended by this Part.

2 S. 17A: Section 25 of the Borrowing and Investment Powers (Amendment) Act 1993, No. 99/1993 reads as follows:

25Transitional provisions—declared Authorities

(1) If an Authority is declared under section 17A of the Principal Act to be a Water Authority to which Schedule 1 applies, Division 4 of Part 13 of the Water Act 1989 continues to apply to or in respect of—

(a) financial accommodation obtained by that Authority under that Division before the declaration; and

(b) financial accommodation obtained by that Authority under that Division after the declaration, pursuant to arrangements entered into before the declaration; and

(c) the investment of money by that Authority before the declaration—

as if the declaration had not been made.

(2) A guarantee by the Government of Victoria in force under section 255(3) of the Water Act 1989 immediately before an Authority is declared under section 17A of the Principal Act to be a Water Authority to which Schedule 1 applies 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.

Documents

Borrowing and Investment Powers Act 1987FILE/87-13a100.docx · Web view(2)If the Treasurer executes a certificate in or to the effect of the prescribed form relating to the provision