27
In forceBorrowing not otherwise permitted
Part 4Borrowing
27 Borrowing not otherwise permitted
(1)
A territory-owned corporation or subsidiary must not borrow, or raise money otherwise than by borrowing, except in accordance with this part.
(2)
A contract is not illegal, void or unenforceable only because this part has not been complied with.
This Act’s bill:Explanatory statement
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