Document ID: chunk:federal_register_of_legislation:C2005C00181:section:5
Version: federal_register_of_legislation:C2005C00181
Segment Type: section
Provision Reference: s 5
Character Range: 2070–5509

5  Conditions of guarantee

  For the purpose of the protection of the financial interests of the Commonwealth, the Finance Minister shall not give a guarantee under section 4 in relation to a borrowing of moneys by the Society unless:
 (a) a like guarantee is given by the Treasurer of the State of Victoria on behalf of that State in respect of the repayment by the Society of one‑half of the principal moneys in relation to the same borrowing;
 (b) the moneys are borrowed for a period not exceeding 3 years and on such other terms and conditions as the Finance Minister is satisfied are reasonable;
 (c) undertakings to the satisfaction of the Finance Minister are given that, so long as the amount borrowed remains unpaid, persons appointed or engaged under the Public Service Act 1999 will have full access at all reasonable times to the financial accounts of the Society when authorized in writing by the Minister for that purpose; and
 (d) such other conditions as the Finance Minister thinks necessary are fulfilled.
Notes to the Co-operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978

Note 1

The Co‑operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978 as shown in this compilation comprises Act No. 16, 1978 amended as indicated in the Tables below.

For all relevant information pertaining to application, saving or transitional provisions see Table A.

Table of Acts
Act                                                                                     Number     Date         Date of commencement                                                Application, saving or transitional provisions
                                                                                        and year   of Assent
Co‑operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978  16, 1978   20 Apr 1978  20 Apr 1978
Public Employment (Consequential and Transitional) Amendment Act 1999                   146, 1999  11 Nov 1999  Schedule 1 (item 337): 5 Dec 1999 (see Gazette 1999, No. S584) (a)  —
Financial Framework Legislation Amendment Act 2005                                      8, 2005    22 Feb 2005  Schedule 2 (items 79–84, 174): Royal Assent                         Sch. 2 (item 174)

(a) The Co‑operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978 was amended by Schedule 1 (item 337) only of the Public Employment (Consequential and Transitional) Amendment Act 1999, subsections 2(1) and (2) of which provide as follows:
 (1) In this Act, commencing time means the time when the Public Service Act 1999 commences.
 (2) Subject to this section, this Act commences at the commencing time.

Table of Amendments
ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted
Provision affected                                                                                How affected
S. 3....................                                                                          rs. No. 8, 2005
S. 4....................                                                                          am. No. 8, 2005
S. 5....................                                                                          am. No. 146, 1999; No. 8, 2005

Table A

Application, saving or transitional provisions

Financial Framework Legislation Amendment Act 2005 (No. 8, 2005)