TELSTRA CORPORATION ACT 1991 - SECT 8AKA Authorisation of borrowing--issue of sale - scheme hybrid securities
TELSTRA CORPORATION ACT 1991 - SECT 8AKA
Authorisation of borrowing--issue of sale - scheme hybrid securitiesTo the extent to which the issue of sale - scheme hybrid securities under a Telstra sale scheme involves a borrowing of money by the Commonwealth, that borrowing is authorised by this section.
Note: Subsection 56(1) of the
Public Governance, Performance and Accountability Act 2013 provides that an
agreement for the borrowing of money by the Commonwealth is of no effect
unless the borrowing is expressly authorised by an Act.