South Australian Consolidated Acts

STATE LOTTERIES ACT 1966 - SECT 13A

13A—Borrowing and investment powers of Commission

        (1)         For the purpose of the exercise of its powers or the performance of its functions the Commission may borrow money from the Treasurer, or with the consent of the Treasurer, from any person.

        (2)         Any liability incurred with the consent of the Treasurer referred to in subsection (1) is hereby guaranteed by the Treasurer.

        (3)         Any liability incurred by the Treasurer under a guarantee arising by virtue of subsection (2) is to be satisfied out of the Consolidated Account, which is appropriated to the necessary extent.

        (4)         Any money held by the Commission that is not immediately required for any other purpose may be invested by the Commission in such manner as may be approved by the Treasurer.