Power of Minister in case of default
47 Power of Minister in case of default
If Fire Rescue Victoria at any time makes default in paying any principal money or interest secured by any debenture, the Minister shall be entitled to receive from the Treasurer of Victoria either the whole of the annual contributions which would otherwise have been payable to Fire Rescue Victoria or such part thereof as the Treasurer of Victoria determines to be necessary for the purposes of paying any principal money or interest in arrear and shall apply to such purposes the moneys so received.
This section shall not be deemed to take away any right of action or procedure which any debenture holder at any time has in respect of the property and revenue of Fire Rescue Victoria.
S. 47A (Heading) inserted by No. 20/2019 s. 143(2)(i).
S. 47A inserted by No. 45/1986 s. 14.
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