Port Management Act 1995

This section applies if—

the port licence holder has paid an upfront licence fee; and

before the period for which the port licence holder has paid that fee ends, the Minister revokes the holder's port licence under section 63J on a ground specified in the licence as a ground on which a refund of an upfront licence or part of an upfront licence fee is payable.

There must be paid to the previous port licence holder an amount (the refund amount) that is attributable to the financial years that have not passed and are encompassed by the period to which the upfront licence relates.

The refund amount must be paid as follows—

if the upfront licence fee was paid into the Victorian Transport Fund and there are sufficient funds in that Fund for that payment, from that Fund;

if the upfront licence fee was paid into the Victorian Transport Fund but there are insufficient funds in that Fund for that payment, from—

that Fund; and

the Consolidated Fund in respect of any part of the amount that cannot be met by funds in the Victorian Transport Fund;

if the upfront licence fee was paid into the Consolidated Fund, from the Consolidated Fund.

The Consolidated Fund is appropriated to the extent necessary for the purposes of a payment of a refund amount under subsection (3)(b)(ii) or (c).

In this section—