3Authority for Treasurer to
guarantee overdraft accounts etc
(1)
It shall be lawful for the Treasurer, upon the
recommendation of the Minister for Health, with the approval of the Governor,
to execute a guarantee in favour of any bank, building society or credit union
in respect of the overdraft account with the bank, building society or credit
union or of any indebtedness to the bank, building society or credit union of
any statutory health corporation or affiliated health organisation within the
meaning of the Health Services Act
1997.
(2)
It shall be lawful for the Treasurer with the
approval of the Governor to execute a guarantee in favour of any bank,
building society or credit union, or of any other body of persons, corporate
or unincorporate, approved by the Minister (in this Act referred to as
approved
body) for the repayment of any advance made or to be made by
the bank, building society, credit union or approved body, as the case may
be:
(a)
to any marketing board within the meaning of the
Marketing of Primary Products Act 1927,
or
(a1)
(b)
to any society (other than a co-operative housing
society) within the meaning of the Co-operation Act
1923, or
(c)
to any society within the meaning of the Permanent
Building Societies Act 1967:
Provided further that where any such guarantee is
for the repayment of any advance to a community settlement society within the
meaning of the Co-operation Act 1923, it shall not be
executed except upon the recommendation of the Co-operative Farms Purchase
Promotion Committee constituted under that Act.
(2A)
(3)
It shall be lawful for the Treasurer, upon the
recommendation of the Farmers’ Relief Board and with the approval of the
Governor, to execute a guarantee in favour of any bank in respect of the
account with the bank of a supervisor within the meaning of the Farmers’
Relief Act 1932.
(4)
It shall be lawful for the Treasurer, with the
approval of the Governor, but subject to this Act, to renew any guarantee
validated by this Act or by the Housing (Further Provisions) Act
1937 for such further period or periods as the Treasurer
may think fit, and either upon the same terms and conditions or upon such
other terms and conditions and for the same amount or such other amount as may
be agreed upon by the Treasurer, the bank and the
debtor.
(5)
Nothing in this section shall require the renewal
of a continuing guarantee validated by this Act or by the Housing (Further
Provisions) Act 1937 or prejudice its operation as a
continuing guarantee.
(5A)
(a)
It shall be lawful for the Treasurer with the
approval of the Governor to execute a guarantee in favour of any bank in
respect of the overdraft account with the bank of any person or body of
persons corporate or unincorporate with whom the Treasurer has entered into an
agreement pursuant to section 13A of the Cinematograph Films (Australian Quota)
Act 1935.
(b)
The Treasurer shall not execute a guarantee under
this subsection after the thirty-first day of December, one thousand nine
hundred and thirty-nine.
(5B)
It shall be lawful for the Treasurer with the
approval of the Governor to execute a guarantee in favour of any bank in
respect of the overdraft account with the bank of The Metropolitan Meat
Industry Commissioner.
(5C)
(a)
It shall be lawful for the Treasurer, upon the
recommendation of the Minister for Agriculture and with the approval of the
Governor, to execute a guarantee in favour of any bank, building society or
credit union, or of any other body of persons, corporate or unincorporate,
approved by the Treasurer (in this Act referred to as approved
body) for repayment of any advance to a society or company,
being the owner or engaged in the operation of a factory for the processing of
milk or other dairy products, or any such society and company acting together,
for the purpose of providing facilities for bulk handling and transportation
of milk.
(b)
In this subsection:
society means a society within the
meaning of the Co-operation Act 1923.
company means a company within the
meaning of the Corporations Act 2001 of the
Commonwealth.
(c)
The provisions of this subsection in relation to
a society shall be additional to and not in derogation of the provisions of
paragraph (b) of subsection (2).
(5D)
It shall be lawful for the Treasurer with the
approval of the Governor to execute a guarantee in favour of any bank,
building society or credit union, or other body of persons, corporate or
unincorporate, approved by the Treasurer (in this Act referred to as approved body) for the repayment of
any advance to the Trustees of The Labor Council of New South Wales, a trade
union registered under the Trade Union Act
1881, as subsequently amended, for purposes connected with
a new Trades Hall or other like purposes.
(5E)
It shall be lawful for the Treasurer with the
approval of the Governor to execute a guarantee in favour of any bank,
building society or credit union in respect of the overdraft account with the
bank, building society or credit union of the Hunter Valley Conservation
Trust.
(5F)
It shall be lawful for the Treasurer, with the
approval of the Governor, to execute a guarantee in favour of any bank,
building society or credit union in respect of the overdraft account with the
bank, building society or credit union of the New South Wales Meat Industry
Authority.
(5G)
It shall be lawful for the Treasurer, upon the
recommendation of the Minister for Sport and Recreation, and with the approval
of the Governor, to execute a guarantee in favour of a bank, building society
or credit union or other body of persons, corporate or unincorporate, approved
by the Treasurer (in this Act referred to as the approved body) for the repayment of
any money borrowed pursuant to section 24 of the Sydney
Cricket and Sports Ground Act 1978.
(5H)
It shall be lawful for the Treasurer, upon the
recommendation of the Minister for Health and with the approval of the
Governor, to execute a guarantee in favour of any bank, building society or
credit union, or other body of persons, corporate or unincorporate, approved
by the Treasurer (in this Act referred to as approved body) for the repayment of
any advance to the Australasian Conference Association Limited, a company
within the meaning of the Companies Act
1961, for the purpose of providing extensions to the body
formerly known as the Sydney Sanitarium and Hospital, Wahroonga, and now known
as the Sydney Adventist Hospital, Wahroonga, and for other purposes connected
therewith.
(5I)
It shall be lawful for the Treasurer, on the
recommendation of the Minister for Health and with the approval of the
Governor, to execute a guarantee in favour of the Bank of New South Wales for
the repayment of any advance to the Trustees of the Sisters of Charity of
Australia, a body corporate constituted under the Roman
Catholic Church Communities’ Lands Act 1942, for the
purpose of rebuilding St. Vincent’s Private Hospital, Darlinghurst, and
for other purposes connected therewith.
(5J)
It shall be lawful for the Treasurer, upon the
recommendation of the Minister for the Arts and with the approval of the
Governor, to execute a guarantee in favour of any bank or other body of
persons, corporate or unincorporate, approved by the Treasurer (in this Act
referred to as approved
body) for the repayment of any advance to the Nimrod Theatre
Company Limited.
(5K)
(6)
Any guarantee executed by the Treasurer under
this Act may be made by way of increase of the amount of the Treasurer’s
liability as stated in a previous guarantee given under this Act, and may be
made upon such terms and conditions as are prescribed or as the Treasurer may
determine.
The enactment of this subsection shall not affect
subsections (1), (2) and (3).
(7)
The approval of the Governor to the execution of
any guarantee under this section shall be conclusive evidence that the
guarantee has not been entered into in contravention of this
section.
s 3: Am 1937 No 27,
secs 6 (1) (a) (3), 7 (3) (a); 1938 No 35, sec 7 (2); 1940 No 15, sec 2 (1)
(a); 1941 No 20, sec 3 (1) (a); 1943 No 26, sec 2; 1948 No 17, sec 2 (1) (a);
1964 No 61, sec 2 (a) (b); 1967 No 18, sec 123 (1) (a); 1968 No 23, sec 2;
1968 No 52, sec 4; 1970 No 2, sec 53; 1972 No 49, sec 2 (c); 1972 No 63, Sch;
1972 No 80, sec 3; 1973 No 64, sec 2; 1975 No 84, sec 6; 1978 No 33, sec 2;
1978 No 62, sec 3; 1981 No 6, sec 3 (a); 1982 No 138, Sch 1; 1985 No 22, sec
2; 1986 No 16, Sch 23; 1987 No 247, sec 4 (a)–(c); 1990 No 76, Sch 2;
1991 No 15, Sch 4; 1992 No 34, Sch 1; 1996 No 24, Sch 1; 1997 No 11, Sch 1.9
[1] [2]; 1997 No 154, Sch 6.14 [1]; 2001 No 34, Sch 2.24; 2008 No 114, Sch
3.2; 2016 No 27, Sch 5.4.
3AGuarantees for industrial
purposes
(1)
Subject to subsection (2), it shall be lawful for
the Treasurer, upon the recommendation of the Minister for Decentralisation
and Development and with the approval of the Governor, to execute a guarantee,
either alone or jointly with some other person, in favour of any bank,
building society or credit union or other person (not being a co-operative
society within the meaning of the Co-operation Act
1923) for the repayment of moneys expended or to be
expended on:
(a)
the acquisition of land, or land and buildings
thereon,
(b)
the construction, improvement or alteration of
buildings, or
(c)
the acquisition of plant, machinery or
equipment,
used or to be used for the conduct of a country
industry, as defined in the State Development and Industries
Assistance Act 1966 immediately before its repeal by the
Trade and Investment Cluster Governance (Amendment and
Repeal) Act 2014.
(2)
The Treasurer shall not execute a guarantee
referred to in subsection (1) if the amount of the guarantee exceeds ninety
per centum of the estimated value of the land or land and buildings thereon,
of the estimated cost of the works of construction, improvement or alteration,
or of the estimated value of the plant, machinery or equipment, as the case
may be, such estimated value or cost to be ascertained in such manner as the
Treasurer may direct.
(3)
The Treasurer may enter into an agreement with a
council within the meaning of the Local Government
Act 1993 for the payment by that council to the Treasurer
of part of any moneys paid under any guarantee given by the Treasurer under
subsection (1).
(4)
The execution by the Treasurer, either alone or
jointly with some other person, of a guarantee under this section shall, in
favour of the creditor, be conclusive evidence that the requirements of this
section with respect to the guarantee have been complied
with.
s 3A: Ins 1966 No 10,
sec 37. Am 1972 No 49, sec 2 (e); 1972 No 65, sec 3; 1995 No 11, Sch 1; 1996
No 24, Sch 1; 1999 No 31, Sch 3.8; 2014 No 26, Sch 3.4.