Western Australian Consolidated Acts Western Australian Consolidated Acts (1) The Authority
is not to exercise the power conferred by section 34(1)(a) except with,
and in accordance with, the Treasurer’s approval.
(2) Without limiting
subsection (1), the Treasurer’s approval may be given by way of a
notice under subsection (3).
(3) The Treasurer may,
by notice to the Authority, impose monetary limits on the exercise of the
power conferred by section 34(1)(a).
(4) A monetary limit
is to be determined for the exercise of that power in a financial year
specified by the Treasurer and may relate to —
(a) the
total amount that can be outstanding at any one time during that year as a
result of the exercise of that power; or
(b) the
total liabilities that can be incurred during that year as a result of the
exercise of that power.
(5) A monetary limit
for the time being in force may be varied for a subsequent financial year by
the Treasurer by a further notice under subsection (3).
(6) A monetary limit
for the time being in force continues to apply until it is so varied.
(7) The Treasurer may,
by notice to the Authority, impose other conditions on the exercise of the
power conferred by section 34(1)(a) or vary a condition for the time
being in force.
(8) The Authority must
comply with any monetary limit or other condition for the time being in force
in relation to it.
(9) A liability of the
Authority is not unenforceable or in any way affected by a failure of the
Authority to comply with this section.
(10) No person dealing
with the Authority is bound or concerned to enquire whether the Authority has
complied or is complying with this section.
[Section 35 inserted by No. 67 of 2004
s. 35.]