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ABORIGINAL AND TORRES STRAIT ISLANDER COMMISSION ACT 1989 No. 150 of 1989 - SECT 153 Guarantees

ABORIGINAL AND TORRES STRAIT ISLANDER COMMISSION ACT 1989 No. 150 of 1989 - SECT 153

Guarantees
153. (1) Where the Corporation Board is satisfied that money lent or to be
lent to any person will be used in a way that furthers the commercial or
economic development of Aboriginal persons or Torres Strait Islanders, the
Corporation may guarantee the due payment of all moneys (including interest)
payable by the borrower in accordance with the terms and conditions of the
loan concerned.

(2) The operation of this section is subject to such limits as the Treasurer
determines as to the total amount of money (other than interest) the payment
of which may at any time be the subject of guarantees under this section.

(3) The Corporation shall not give guarantees except under this section.