Borrowing powers of Corporation

Current

(1)

The Treasurer may, on the application of the Corporation and on such terms and conditions as the Treasurer thinks fit, lend money to the Corporation.

(2)

The Corporation may, for the purpose of obtaining temporary financial accommodation, borrow by way of overdraft from any bank, building society or credit union but the total amount owing on all borrowings made under this subsection must not at any time exceed $500,000.

This Act’s bill:Explanatory memorandum Second reading speech

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11 Borrowing powers of Corporation