Co-operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978

The Co-operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978 is an Australian law that authorizes the giving of a guarantee in respect of borrowing by Co-operative Farmers and Graziers Direct Meat Supply Limited. The Act was amended as indicated in the Table of Amendments, with provisions being added, inserted, amended, or repealed.

The Act may be cited as the Co-operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978 and comes into operation on the day it receives the Royal Assent. The Finance Minister is responsible for giving guarantees in respect of the repayment by the Society of one-half of the principal moneys in relation to a borrowing of moneys by the Society.

The conditions of guarantee are set out in section 5, which includes requirements such as:

• A like guarantee is given by the Treasurer of the State of Victoria on behalf of that State
• The money is borrowed for a period not exceeding 3 years and on such other terms and conditions as the Finance Minister is satisfied are reasonable
• Undertakings to the satisfaction of the Finance Minister are given that, so long as the amount borrowed remains unpaid, persons appointed or engaged under the Public Service Act 1999 will have full access at all reasonable times to the financial accounts of the Society

The Act has been amended by Schedule 1 (item 337) of the Public Employment (Consequential and Transitional) Amendment Act 1999, which provides that this Act commences at the commencing time. The Financial Framework Legislation Amendment Act 2005 (No. 8, 2005) also makes amendments to the Act, including a saving provision in Schedule 2.

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section. This compilation was prepared on 7 March 2005, taking into account amendments up to Act No. 8 of 2005.