Victorian Current Acts

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EDUCATION AND TRAINING REFORM ACT 2006 - SECT 3.1.4

Monetary amounts in VET funding contracts

    (1)     This section applies if a VET funding contract expressly provides for the payment by a contractor to the State of a monetary amount fixed or determined in accordance with the contract—

        (a)     for a breach of the contract;

        (b)     for a failure (not being a breach of contract) to meet a performance requirement specified in the contract;

        (c)     on the termination of the contract.

    (2)     Despite anything to the contrary in a rule of, or principle at, common law relating to liquidated damages or penalties in respect of a breach of contract, the contractor may be required to pay the monetary amount in accordance with the provision of the VET funding contract.

New s. 3.1.5 inserted by No. 73/2012 s. 10.



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