Loans by Minister
35 Loans by Minister
Where, on an application for a loan under section 9(2)(b), TDR is of opinion that the grant of the loan would not be in accordance with the powers conferred by that section but that the grant of a loan would assist in the development, expansion, or retention of a business undertaking, TDR may recommend to the Minister that he grant a loan of money under this section.
On making a recommendation under subsection (1) TDR shall refer the application for the loan to the Minister and shall provide the Minister with such additional information as it thinks fit.
Where TDR makes a recommendation under subsection (1) that a loan of money be granted to a person, the Minister may, with the approval of the Treasurer and for the purposes of this Act, make a loan of money to that person, with or without security and on such terms and conditions as the Minister thinks fit.
For the purposes of this section – TDR shall provide the Minister with such information as he may request; and the Minister may direct TDR to carry out such investigations, and to make recommendations to him on such questions, as he may determine.
TDR shall comply with a direction given to it by the Minister under subsection (4)(b).
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.