Borrowing
45 Borrowing
The Future Fund Board must not borrow money for a purpose in connection with the Medical Research Future Fund unless the borrowing is authorised by subsection (2) or (3).
The Future Fund Board is authorised to borrow money for a purpose in connection with the Medical Research Future Fund if:
the purpose of the borrowing is to enable the Board to cover settlement of a transaction for the acquisition of one or more financial assets; and
at the time the relevant acquisition decision was made, it was likely that the borrowing would not be needed; and
the period of the borrowing does not exceed 7 days; and
if the borrowing were to take place, the total amount borrowed by the Board would not exceed 10% of the balance of the Fund.
The Future Fund Board is authorised to borrow money for a purpose in connection with the Medical Research Future Fund if the borrowing takes place in such circumstances (if any) as are specified in the rules.
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