Authority to borrow
6 Authority to borrow
6.(1) The Treasurer may, from time to time during the current financial year, borrow money that, together with any money previously borrowed under this subsection during that financial year, does not exceed the sum of:
the amount that, at the time of the borrowing, the Treasurer considers to be the amount by which, apart from this Part, money received, and to be received, in the Consolidated
Revenue Fund in that financial year is likely to be less than the amount of the expenditure made, and to be made, from the Consolidated Revenue Fund in that financial year; and
the amount that, at that time, the Treasurer considers will be the expenses of the borrowing.
Money may be borrowed under subsection (1) in accordance with:
the Commonwealth Inscribed Stock Act 1911; or
an Act authorising the issue of Treasury Bills;
and not otherwise.
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