Agricultural Show Societies and Sports Clubs (Guarantees) Act 1960
An Act to authorise the Treasurer to guarantee the repayment of moneys borrowed by agricultural show societies and sports clubs and the payment of the interest and other charges payable in respect thereof, and provide for matters incidental thereto
[Royal Assent 19 December 1960]
Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:
This Act may be cited as the Agricultural Show Societies and Sports Clubs (Guarantees) Act 1960 .
[Section 2 Amended by No. 78 of 1974, s. 4 ]In this Act, unless the contrary intention appears –agricultural show society means –(a) the Royal Agricultural Society of Tasmania;(b) the National Agricultural and Pastoral Society of Tasmania; and(c) any other society or body formed for the purpose of conducting exhibitions of livestock as the Governor may, by proclamation, declare to be an agricultural show society for the purpose of this Act;approved lender means –(a) [Section 2 Amended by No. 74 of 1999, Sched. 2, Applied:01 Jan 2000] any authorised deposit-taking institution; and(b) any person or body of persons (whether incorporated or unincorporated) declared by the Governor, by order, to be an approved lender for the purposes of this Act;sports club means a body corporate whose main or sole purpose is the carrying on of a sport or game, being a body corporate that is not carried on for the purpose of trading or securing pecuniary profit for its members.
3. Power of Treasurer to guarantee repayment of moneys borrowed by societies
[Section 3 Amended by No. 55 of 1965, s. 5 ][Section 3 Subsection (2) substituted by No. 78 of 1974, s. 5 ](1) For the purpose of assisting agricultural show societies in relation to the provision and improvement of showgrounds and showground facilities, the Treasurer, subject to this section, may, on behalf of the State, guarantee the repayment of any moneys borrowed by any such society from an approved lender and the payment of the interest and other charges payable in respect thereof.(2) For the purpose of assisting sports clubs in the provision or improvement of –the Treasurer, subject to this section, may, on behalf of the State, guarantee the repayment of any moneys borrowed by any such sports club from an approved lender and the payment of the interest and other charges payable in respect thereof.(a) facilities for the carrying on of any sport or game; or(b) facilities at the place used by the club for the carrying on of any sport or game –(3) Before a guarantee is given by the Treasurer under this section in relation to any moneys borrowed or proposed to be borrowed by a society or sports club, the society or sports club shall give to the Treasurer such security as the Treasurer may require and shall execute all such instruments as may be necessary for that purpose.
4. Payments to banks under guarantees
[Section 4 Subsection (1) amended by No. 68 of 1994, s. 3 and Sched. 1 ][Section 4 Subsection (2) amended by No. 78 of 1974, s. 6 ][Section 4 Subsection (3) amended by No. 68 of 1994, s. 3 and Sched. 1 ](1) If the Treasurer is called upon to make a payment to an approved lender in consequence of a guarantee given under section 3 , the Treasurer shall, upon the demand of the approved lender and without any authority other than this section, make that payment to the approved lender out of the Consolidated Fund (which, to the necessary extent, is appropriated accordingly).(2) A society or sports club shall, upon demand being made of it by the Treasurer, pay to the Treasurer any amounts paid to an approved lender by the Treasurer under this section in respect of that society or sports club, together with interest thereon at the same rate of interest payable to the approved lender by the society or sports club in respect of the principal moneys in relation to which the payment was made by the Treasurer calculated from the day of payment by the Treasurer until repayment to him by the society or sports club.(3) All moneys received by the Treasurer under subsection (2) shall be paid by the Treasurer into the Consolidated Fund.