65Capital

65 Capital

S. 65(1) amended by No. 10/2017 s. 26(1).

(1) The capital of Development Victoria is equal to the sum of—

S. 65(1)(a) amended by No. 10/2017 s. 26(1).

(a) the assets and liabilities vested in Development Victoria under sections 81 and 85; and

S. 65(1)(b) amended by No. 10/2017 s. 27.

(b) any part of Development Victoria's liabilities that is converted into capital at the direction of the Treasurer; and

S. 65(1)(c) amended by No. 10/2017 s. 26(1).

(c) any amounts paid to Development Victoria out of money appropriated by the Parliament for the purpose of providing capital; and

S. 65(1)(d) amended by No. 10/2017 s. 27.

(d) any part of Development Victoria's reserves that is converted into capital at the direction of the Treasurer after consultation with the board—

less any amount of capital repaid under subsection (2).

S. 65(2) amended by No. 10/2017 s. 26(1).

(2) The capital of Development Victoria is repayable to the State at such times, and in such amounts, as the Treasurer, after consultation with the Minister, directs in writing after consultation with the board.

S. 65(3) amended by No. 10/2017 s. 27.

(3) In giving such a direction, the Treasurer shall have regard to any advice that the board has given to the Treasurer in relation to Development Victoria's affairs.

S. 66 amended by No. 10/2017 s. 23(2).