s 67AU

Commonwealth takeover of certain liabilities of the Commission

In force

(1)

This section applies to a liability of the Commission under a borrowing transaction.

(2)

The Treasurer may, on the Commonwealth's behalf, enter into an agreement to take over a liability to which this section applies.

(3)

For the purposes of this section, a borrowing transaction is:

(a)

a loan; or

(b)

any other transaction that gives rise to a borrowing.

(4)

For the purposes of this section, borrowing includes borrowing, or otherwise raising money, by dealing in securities.

(5)

For the purposes of this section, the obtaining of credit is taken to be a borrowing of an amount equal to the value of the credit obtained.

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