Western Australian Consolidated Acts Western Australian Consolidated Acts (1) The provisions of
this section are in addition to, and do not derogate from, those of
section 15A, or any of the provisions of the University Buildings
Act 1930 , the University Building Act 1938 , or the
University Buildings Act 1952 .
(2) Where the
University proposes to raise a loan for any purpose and desires the Treasurer
of the State to guarantee repayment of the amount of the proposed loan and
payment of interest thereon, the Senate shall cause particulars of the
proposed loan to be submitted to the Treasurer for presentation to the
Governor.
(3) If the Governor
approves the particulars of the proposed loan and approves the guarantee by
the Treasurer and causes the Senate to be advised of the approval, the Senate
may proceed to negotiate the proposed loan, but shall not finalize the
negotiations for, or execute any form of instrument of security required in
respect of, the proposed loan, until the form has been submitted to and
approved by the Treasurer.
(4) If the Governor
approves the particulars of the proposed loan and the Treasurer approves the
form of instrument, or if more than one, instruments, of security, the
Treasurer on behalf of the State shall guarantee repayment of the amount of
the loan and payment of interest thereon in accordance with the provisions of
that instrument or those instruments of security, which the Treasurer is
hereby authorised to execute on behalf of the State.
(5) The due payment of
money payable by the Treasurer under a guarantee given by him under the
authority of this section —
(a) is
hereby guaranteed by the State; and
(b)
shall be charged to the Consolidated Account.
[Section 15B inserted by No. 25 of 1957
s. 2; amended by No. 98 of 1985 s. 3; No. 6 of 1993
s. 11; No. 49 of 1996 s. 64; No. 37 of 2006 s. 9; No. 77
of 2006 s. 4.]