33Abolition of Funds and transitional

33 Abolition of Funds and transitional

(1) On the commencement of section 7 of the Melbourne and Olympic Parks (Amendment) Act 1997—

(a) the National Tennis Centre Fund and the Olympic Park Fund are abolished;

(b) any money or amounts standing to the credit of the National Tennis Centre Fund and the Olympic Park Fund immediately before that date must be taken to form part of the Melbourne and Olympic Parks Trust Fund;

(c) any income received by the Trust from investments of the National Tennis Centre Fund and the Olympic Park Fund after that date must be paid into the Melbourne and Olympic Parks Trust Fund.

(2) Any sums required by the Treasurer in fulfilling any liability arising under a guarantee given under section 18 or 18A as in force immediately before the commencement of section 8 of the Melbourne and Olympic Parks (Amendment) Act 1997 shall be paid out of the Consolidated Fund which is to the necessary extent appropriated accordingly.

(3) Any sums received or recovered by the Treasurer in respect of any sums paid by the Treasurer under a guarantee given under section 18 or 18A as in force immediately before the commencement of section 8 of the Melbourne and Olympic Parks (Amendment) Act 1997 shall be paid into the Consolidated Fund.

S. 34
inserted by No. 62/2007
s. 15.