Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 889F

Money borrowed and paid to the SEGC

             (1)  This section applies if money borrowed by the SEGC under subsection 889E(1) is paid to the SEGC.

             (2)  The SEGC must pay the money into the NGF.

             (3)  If:

                     (a)  the money was borrowed for the purpose of meeting a payment due out of the NGF; and

                     (b)  the borrowed money has been paid into the NGF; and

                     (c)  the payment due out of the NGF has not yet been made;

then, for the purposes of section 889J, the amount in the NGF is taken to be reduced by the amount of the borrowed money.



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