56DDevelopment Victoria and nominated agency to prepare allocation statement or statements

56D Development Victoria and nominated agency to prepare allocation statement or statements

(1) Development Victoria and the nominated agency must give to the relevant Ministers and the Treasurer, within the period approved by the relevant Ministers and the Treasurer, a statement or statements approved by the Treasurer and the relevant Ministers relating to the property, rights and liabilities of the nominated agency in relation to a designated project as at the relevant date.

(2) A statement under this section in relation to a designated project—

(a) must allocate to Development Victoria all the property, rights and liabilities of the nominated agency which relate to the project; and

(b) must specify the provisions of Divisions 2, 3, 4, 5, 5A and 6 of Part 3 which are to apply in relation to the project; and

(c) must be signed on behalf of the nominated agency and Development Victoria.

(3) If a statement under this section is approved by the Treasurer and the relevant Ministers—

(a) the Treasurer and the relevant Ministers must sign the statement; and

(b) the statement is an allocation statement for the purposes of this Part.

(4) The Treasurer and the relevant Ministers may at any time direct the nominated agency and Development Victoria to amend a statement given to them under this section as specified in the direction.

(5) An allocation statement under this section may be amended in writing signed by the Treasurer and the relevant Ministers.

(6) In this section, statement and allocation statement include a statement or allocation statement amended in accordance with this section.

S. 56E inserted by No. 10/2017 s. 19.