Treasurer's approval required for certain contracts
29 Treasurer's approval required for certain contracts
(1) The Corporation must not enter into a contract for any of the following without the Treasurer's approval:
borrowing of money by the Corporation;
lending of money by the Corporation;
(c) raising of money, otherwise than by borrowing, by the Corporation in a manner that is not specified for subsection (2);
(d) investing the Corporation's money, otherwise than by lending, in a class of investment that is not specified for subsection (2).
The Treasurer may in writing specify:
(a) a manner of raising money for which the Treasurer's approval is not required; and
(b) a class of investment for which the Treasurer's approval is not required.
This Act’s bill:Explanatory statementSecond reading speech
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