War Service Land Settlement Act 1950

Where the Board has established waterworks for the supply of water to a group of holdings, the Governor may, on the request of the Board – by proclamation – define the boundaries of the group of holdings and declare the lands within those boundaries to be a water district; name that water district; and declare the source of supply of that district for the purposes of this section; and by letters patent, create and incorporate a board of trustees for the waterworks and provide for their appointment or election.

Upon the issue of the instruments mentioned in subsection (1) of this section – the Waterworks Clauses Act 1952 shall apply in respect of the waterworks as if – this Act were the special Act for the purposes of that Act; and the board of trustees were the undertakers authorized to construct the waterworks and to take water from the declared source of supply for the supply of the water district; the Board may convey to the board of trustees all its rights in the waterworks; and the board of trustees shall, upon the conveyance of the Board's rights, pay to the Board the value of those rights as determined by the Minister by such instalments, at such times, and with such interest as he directs to be provided in the conveyance.

The Treasurer may, on behalf of the Crown, guarantee repayment of moneys borrowed by boards of trustees for the purposes of this section.

The Board may out of moneys available for the purposes of this Act lend money to boards of trustees for the purposes of this Act.

To secure payment of money given under a guarantee under subsection (3) or lent under subsection (4), a board of trustees may give a charge over its revenue.

The Treasurer shall not act under subsection (3), nor the Board under subsection (4), of this section, except where the moneys to be guaranteed or lent will be spent on works approved for the purposes of this section by Tasmanian Irrigation Pty Ltd (ACN 133 148 384).