Victorian Numbered Acts Victorian Numbered ActsAfter section 350 of the Principal Act insert —
In this Division—
"commencement day" means the day on which section 39 of the Transport Legislation Amendment (Further Taxi Reform and Other Matters) Act 2014 comes into operation;
"general fund" means the general fund established under section 79VE of the Transport Integration Act 2010 ;
"money standing to the credit of the old fund" includes money that is income from the investment of money standing to the credit of the old fund and that is the proceeds of sale of any investment;
"old fund" means the Public Transport Fund established under section 11 as in force immediately before the commencement day;
"specified day" means the day specified in an Order under section 353(1).
(1) On and after the commencement day, the old fund continues despite the repeal of section 11.
(2) While the old fund is continued under this section—
(a) section 11 continues in force as if it had not been repealed; and
(b) section 12(4) continues in force as if it had not been amended by section 40 of the Transport Legislation Amendment (Further Taxi Reform and Other Matters) Act 2014 .
(3) Nothing in this section affects the abolition of the old fund in accordance with section 354.
(1) While the old fund is continued under section 352, the Governor in Council, on the recommendation of the Minister and Treasurer, by Order published in the Government Gazette, may specify—
(a) an amount of money standing to the credit of the old fund that is to be transferred to the general fund; and
(b) the day on which the amount of money specified under paragraph (a) is to be transferred (the specified day ).
(2) The amount of money specified under an Order under subsection (1) may be—
(a) an amount specified in the Order; or
(b) an amount that can be determined—
(i) through the application of a formula or methodology specified in the Order; or
(ii) by reference to the basis on which it was paid or is payable into the old fund.
(1) On the specified day—
(a) the amount of money specified under an Order under section 353(1) is paid out of the old fund and forms part of the general fund; and
(b) all other money standing to the credit of the old fund forms part of the Consolidated Fund; and
(c) the old fund is abolished.
(2) In addition—
(a) all amounts that are received on and after the specified day under agreements, leases or licences to which the Crown, or another person on behalf of the Crown, is a party relating to, or connected with, passenger services or other transport services that would have been payable into the old fund before its abolition must be paid into the Consolidated Fund; and
(b) all amounts allocated to the Crown on and after the specified day in accordance with any agreement referred to in section 34(2A)(a) of the Transport Integration Act 2010 that would have been payable into the old fund before its abolition must be paid into the Consolidated Fund.
(1) A reference to the old fund in any Act, subordinate instrument, agreement, lease, licence or other document to the extent that it relates to any money specified in an Order under section 353(1)(a) is taken to be a reference to the general fund, unless the contrary intention appears.
(2) A reference to the old fund in any Act, subordinate instrument, agreement, lease, licence or other document to the extent that it relates to any money to which section 354(1)(b) applies is taken to be a reference to the Consolidated Fund, unless the contrary intention appears.".