Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Notwithstanding
anything to the contrary contained elsewhere in this Act, the board, pending
the collection of any rates or the receipt of any subsidies in aid of rates or
grants payable by the Government, may, for the purpose of commencing, carrying
on, or completing works, obtain advances from any bank by overdraft of the
current account, but no such overdraft shall at any time exceed one-third of
the ordinary revenue of the board for the year then last preceding.
(2) The bank making
such advances shall not be concerned to inquire whether the same have been
obtained for the purposes set forth in this section, nor be required to see to
the application of such advances.
[Section 123A inserted by No. 10 of 1941
s. 6; amended by No. 19 of 2010 s. 51.]