Commonwealth Numbered Acts

AUSTRALIAN HORTICULTURAL CORPORATION ACT 1987 No. 164 of 1987 - SECT 54

54. (1) The Treasurer may, on behalf of the Commonwealth, enter into a
contract:

   (a)  guaranteeing the repayment by the Corporation of money borrowed under
        paragraph 52 (1) (a) and the payment by the Corporation of interest
        (including any interest on that interest) on money so borrowed; or

   (b)  guaranteeing the payment by the Corporation of such amounts (which may
        be interest) that the Corporation is liable to pay with respect to
        money raised under paragraph 52 (1) (b) as are specified in the
        contract.

(2) The Treasurer may, in writing, determine:

   (a)  that the repayment by the Corporation of money borrowed under
        paragraph 52 (1) (a), and the payment by the Corporation of interest
        (including any interest on that interest) on money so borrowed, are
        guaranteed by the Commonwealth; or

   (b)  that the payment by the Corporation of such money (which may be
        interest) that the Corporation is liable to pay with respect to money
        raised under paragraph 52 (1) (b) as is specified in the determination
        is guaranteed by the Commonwealth; and, where the Treasurer makes such
        a determination, the repayment of that money and the payment of that
        interest are, or the payment of that money is, by force of this
        subsection, guaranteed by the Commonwealth.

(3) A contract may be entered into under subsection (1), and a determination
may be made under subsection (2), in relation to a particular transaction or a
class of transactions.

(4) A contract entered into under subsection (1) may include either or both of
the following provisions:

   (a)  a provision agreeing that proceedings under the contract may be taken
        in the courts, or a specified court, of a country other than
        Australia;

   (b)  a provision waiving the immunity of the Commonwealth from suit in the
        courts, or a specified court, of a country other than Australia in
        relation to any proceedings that may be taken under the contract.