ABORIGINAL AND TORRES STRAIT ISLANDER COMMISSION ACT 1989 No. 150 of 1989 - SECT 17 Enterprise loans and grants

ABORIGINAL AND TORRES STRAIT ISLANDER COMMISSION ACT 1989 No. 150 of 1989 - SECT 17

17. (1) The Commission may, for the purpose of enabling or assisting
Aboriginal persons and Torres Strait Islanders to engage in business
enterprises:

   (a)  make loans, on such terms and conditions as are determined by the
        Commission, to:

        (i)    Aboriginal persons and Torres Strait Islanders; or

        (ii)   Aboriginal or Torres Strait Islander corporations;

   (b)  subscribe for, or otherwise acquire, shares or stock in the capital of
        a company;

   (c)  make grants of money, on such terms and conditions as are determined
        by the Commission, to
        Aboriginal or Torres Strait Islander corporations; and

   (d)  make payments in respect of the investigation or supervision of, or
        the provision of accounting services, management advice or technical
        assistance for or in relation to, a business enterprise in connection
        with which:

        (i)    moneys have been or may be applied in accordance with paragraph
               (a), (b) or (c);

        (ii)   property has been, or may be, acquired or otherwise dealt with
               pursuant to section 14 or acquired pursuant to a grant under
               section 15; or

        (iii)  a guarantee has been or may be given under section 19.

(2) The loans that the Commission may make under subsection (1) include, but
are not limited to, loans for the purpose of the acquisition from the
Commission of shares or stock in the capital of a company.

(3) The Commission shall not exercise its powers under subsection (1) in
relation to a business enterprise unless it is satisfied that the enterprise
is likely to become, or continue to be, commercially successful.

(4) In considering whether to exercise its powers under subsection (1), the
Commission shall have regard to the effect of the proposed exercise of power
on the employment and training of Aboriginal persons and Torres Strait
Islanders.