Commonwealth Numbered Acts

AUSTRALIAN HORTICULTURAL CORPORATION ACT 1987 No. 164 of 1987 - SECT 53

53. (1) Subject to subsection (3), the Corporation may, for hedging purposes,
enter into and deal with currency futures contracts, and interest rate futures
contracts, at futures markets in relation to:

   (a)  a borrowing, or proposed borrowing, of money; or

   (b)  a raising, or proposed raising, of money otherwise than by borrowing.

(2) A currency futures contract or interest rate futures contract shall, for
the purposes of subsection (1), be taken to be entered into or dealt with for
hedging purposes if, and only if, the contract is for the purpose of
minimising the risks of adverse variations in the costs of the transaction in
relation to which the contract is entered into or dealt with.

(3) The Minister may give written guidelines to the Corporation for the
exercise of its powers under subsection (1), and the Corporation shall comply
with the guidelines.