SAFETY, REHABILITATION AND COMPENSATION ACT 1988 - SECT 95 Borrowing

SAFETY, REHABILITATION AND COMPENSATION ACT 1988 - SECT 95

  (1)   Comcare may, with the written approval of the Finance Minister, borrow money otherwise than from the Commonwealth on terms and conditions that are specified in, or consistent with, the approval.

  (2)   An approval may be in respect of particular borrowings or a specified class or classes of borrowings.

  (3)   The Finance Minister may, on behalf of the Commonwealth, guarantee the repayment by Comcare of the amounts borrowed under this section and the payment of interest on such amounts.

  (4)   Comcare may give security over the whole or any part of its assets for the repayment of money borrowed by Comcare and the payment of any money that it is otherwise liable to pay in respect of those borrowings, including the payment of any interest on such money.

  (5)   Comcare shall not borrow money, except under this section, or otherwise raise money.

  (6)   The Finance Minister may, by written instrument, delegate any of the Finance Minister's powers or functions under this section to an official (within the meaning of the Public Governance, Performance and Accountability Act 2013 ) of a non - corporate Commonwealth entity (within the meaning of that Act). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.