TDR's power to borrow
24 TDR's power to borrow
TDR may, with the consent of the Treasurer but subject to this section, borrow money for the purposes of this Act, the Farm Water Development Act 1985, the King and Flinders Islands (Power) Financial Assistance 1984, the Closer Settlement Act 1957 or the Rural Adjustment Act 1995.
Money borrowed under subsection (1) is to be borrowed on authorised deposit-taking institution overdraft or in such other manner as the Treasurer may approve.
Without limiting its powers under subsection (1), TDR may, for the purposes of this Act, borrow money with the consent of the Treasurer from the Primary Industry Bank subject to such terms or conditions as may be agreed in writing between TDR and that Bank, including terms or conditions requiring TDR to make to that Bank loans or deposits of such amounts as may be determined by reference to the agreement.
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