Commonwealth Numbered Acts Commonwealth Numbered ActsBorrowing by the Corporation
(1) The Corporation must not borrow money for a purpose in connection with the Corporation's functions unless the borrowing is authorised by subsection (2) or (3).
(2) The Corporation is authorised to borrow money for a purpose in connection with the Corporation's functions if:
(a) the purpose of the borrowing is to enable the Corporation to cover settlement of a transaction for the acquisition of one or more financial assets; and
(b) at the time the relevant acquisition decision was made, it was likely that the borrowing would not be needed; and
(c) the period of the borrowing does not exceed 7 days.
(3) The Corporation is authorised to borrow money for a purpose in connection with the Corporation's functions if the borrowing takes place in the circumstances (if any) prescribed by the regulations.
(4) Nothing in subsection (1) affects the Corporation's ability to obtain goods or services on credit in accordance with section 28A of the Commonwealth Authorities and Companies Act 1997 .
Borrowing by subsidiaries
(5) A wholly-owned subsidiary of the Corporation may borrow money from the Corporation (and the borrowing need not comply with subsection (2) or (3)).
(6) Section 29 of the Commonwealth Authorities and Companies Act 1997 does not apply to the Corporation in relation to borrowings by subsidiaries authorised by subsection (5).