Victorian Legislation and Parliamentary Documentsi
Version No. 001
Royal Melbourne Hospital Act 1938
Act No. 4536/1938
Version incorporating amendments as at 21 February 2001
TABLE OF PROVISIONS
Section Page
Short title, construction and citation 2
Power to Royal Melbourne Hospital corporation to raise
£500 000 by issue of debentures 2
Power to Treasurer of Victoria to guarantee repayment of loan
and payment of interest thereon 3
Application of proceeds of sale of land of present site of
hospital and buildings improvements and equipment thereon 3
Power to trustees to invest in debentures 4
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ENDNOTES 6
General Information 6
Table of Amendments 7
Explanatory Details 8
Victorian Legislation and Parliamentary Documents1
Version No. 001
Royal Melbourne Hospital Act 1938
Act No. 4536/1938
Version incorporating amendments as at 21 February 2001
An Act to enable The Royal Melbourne Hospital to borrow
certain Moneys by the Issue of Debentures and to empower the
Treasurer of Victoria on behalf of the Government of Victoria to
guarantee the Repayment of such Moneys and Interest thereon
and for other purposes.
Preamble
WHEREAS The Royal Melbourne Hospital
(hereinafter referred to as "the corporation") was
by the Royal Melbourne Hospital Act 1935
authorized to sell certain land in the city of
Melbourne and the buildings improvements and
equipment thereon and to apply the proceeds of
such sale for or towards the cost and expenses of or
incident to providing a general hospital on certain
other land in the said city and of erecting any
buildings and of equipping the same and of making
improvements on the said other land:
AND WHEREAS it is expedient to authorize the
corporation to raise by loan such sums of money
(not exceeding Five hundred thousand pounds in
all) for the purpose of facilitating the provision of
the general hospital aforesaid and to empower the
Treasurer of Victoria on behalf of the State of
Victoria to guarantee the repayment of such
moneys and the payment of interest thereon and
also to make other provisions as hereinafter
enacted:
Victorian Legislation and Parliamentary DocumentsAct No. 4536/1938
Royal Melbourne Hospital Act 1938
2
BE IT THEREFORE ENACTED by the King's Most
Excellent Majesty by and with the advice and consent of the
Legislative Council and the Legislative Assembly of Victoria
in this present Parliament assembled and by the authority of
the same as follows (that is to say):
Short title, construction and citation
This Act may be cited as the Royal Melbourne
Hospital Act 1938 and shall be read and
construed as one with the Royal Melbourne
Hospital Act 1935 (hereinafter called the
Principal Act) which Act and this Act may be
cited together as the Royal Melbourne Hospital
Acts.
Power to Royal Melbourne Hospital corporation to
raise £500 000 by issue of debentures
(1) For the purpose of providing a general hospital on
the land described in the Fourth Schedule to the
Principal Act and of erecting any buildings and of
equipping the same and of making improvements
on the said land the corporation subject to the
approval of the Governor in Council may from
time to time by the issue of debentures under its
seal borrow at interest sums of money not
exceeding Five hundred thousand pounds in all.
(2) The repayment of any principal sums so borrowed
and the payment of interest thereon shall be
secured on the revenues of the corporation.
(3) The Governor in Council may make regulations
prescribing the form of such debentures and the
term for which such debentures may be issued.
s. 1
Victorian Legislation and Parliamentary DocumentsAct No. 4536/1938
Royal Melbourne Hospital Act 1938
3
3. Power to Treasurer of Victoria to guarantee
repayment of loan and payment of interest thereon
(1) The Treasurer of Victoria on behalf of the State of
Victoria may guarantee in such manner and form
and upon such conditions as he thinks fit—
(a) the repayment of any sum so borrowed; and
(b) the payment of interest on any sum so
borrowed.
(2) Any sums required by the Treasurer of Victoria
for fulfilling any guarantee given under this
section shall be paid out of the consolidated
revenue (which is hereby to the necessary extent
appropriated accordingly) and any sums received
or recovered by the said Treasurer from the
corporation or otherwise in respect of any sum so
paid by the said Treasurer shall be paid into the
consolidated revenue.
(3) The Treasurer of Victoria shall lay before both
Houses of Parliament a statement of any guarantee
given under this section and an account of any
sums paid out of the consolidated revenue for the
purposes of any such guarantee as soon as may be
after the guarantee is given or the sums are paid.
4. Application of proceeds of sale of land of present
site of hospital and buildings improvements and
equipment thereon
(1) Notwithstanding anything in section seven of the
Principal Act the proceeds of the sale by the
corporation of the land buildings improvements
and equipment authorized to be made by
section four of the Principal Act shall be
applied—
(a) first, in recouping the Treasurer of Victoria
for any amounts theretofore paid by him
pursuant to any guarantee give under the last
preceding section; and
s. 3
Victorian Legislation and Parliamentary DocumentsAct No. 4536/1938
Royal Melbourne Hospital Act 1938
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(b) secondly, in repayment of moneys borrowed
by the corporation under this Act—
and any balance then remaining shall be paid into
The Building Plant and Equipment Account of the
corporation and be applied as provided in sub-
section (2) of section seven of the Principal Act.
(2) (a) If by reason of the terms of repayment of any
moneys borrowed by the corporation as
aforesaid it is not practicable to apply as
aforesaid the proceeds of such sale
immediately, such proceeds or such portion
thereof as cannot be so applied shall be
temporarily paid to the credit of a trust
account approved by the Treasurer of
Victoria.
(b) The moneys standing to the credit of such
account may be temporarily invested in such
manner as the said Treasurer approved.
(c) The income arising from any such
investment shall be carried to the credit of
such account and shall be applied in the
same way as the proceeds of such sale are
required to be applied.
5. Power to trustees to invest in debentures
(2) Any debentures issued by the corporation under
an authority conferred by this Act shall be a
lawful investment for any moneys which any
company or body corporate incorporated by any
Act of the Parliament of Victoria is authorized or
directed to invest in addition to any other
investments expressly authorized for the
investment of such moneys.
s. 5
S. 5(1)
repealed by
No. 9204
s. 3(Sch.).
S. 5(2)
amended by
No. 9204
s. 3(Sch.).
Victorian Legislation and Parliamentary DocumentsAct No. 4536/1938
Royal Melbourne Hospital Act 1938
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(3) Without affecting the generality of the last
preceding sub-section, notwithstanding anything
in any Act such debentures and stock shall be a
lawful investment for any moneys which The
Commissioners of the State Savings Bank of
Victoria are authorized or directed to invest
pursuant to the State Savings Bank Acts as if they
were municipal debentures.
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s. 5
Victorian Legislation and Parliamentary DocumentsAct No. 4536/1938
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ENDNOTES
General Information
The Royal Melbourne Hospital Act 1938 was assented to on 1 August 1938
and came into operation on 1 August 1938.
Endnotes
Victorian Legislation and Parliamentary DocumentsAct No. 4536/1938
Royal Melbourne Hospital Act 1938
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2. Table of Amendments
This Version incorporates amendments made to the Royal Melbourne
Hospital Act 1938 by Acts and subordinate instruments.
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Trustee (Authorized Investments) Act 1978, No. 9204/1978
Assent Date: 5.12.78
Commencement Date: 5.12.78
Current State: All of Act in operation
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Endnotes
Victorian Legislation and Parliamentary DocumentsAct No. 4536/1938
Royal Melbourne Hospital Act 1938
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3. Explanatory Details
No entries at date of publication.
Endnotes
Section 1 - Royal Melbourne Hospital Act 1938 - Royal Melbourne Hospital Act 1938 | Zoe