Borrowing and investment powers of board
24 Borrowing and investment powers of board
The board may, for the purposes of this Schedule, borrow money from the
Treasurer or, with the consent of the Treasurer, from any other person.
Liabilities incurred by the board under subclause (1) with the consent of the Treasurer are guaranteed by the Treasurer.
A liability of the Treasurer under a guarantee arising by virtue of subclause (2) is to be satisfied out of the Consolidated Account which is appropriated by this clause to the necessary extent.
Any money of the board that is not immediately required for the purposes of this Schedule may be invested in such manner as the Treasurer may approved.
This Act’s bill:Second reading speech
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