Commonwealth Numbered Acts

AUSTRALIAN NATIONAL RAILWAYS COMMISSION ACT 1983 No. 140 of 1983 - SECT 62

62. (1) The Commission may, with the approval of the Treasurer -

   (a)  borrow moneys otherwise than from the Commonwealth; or

   (b)  raise moneys otherwise than by borrowing, on such terms and conditions
        as are specified in the approval.

(2) Without limiting the generality of sub-section (1), the Commission may,
under that sub-section, borrow moneys, or raise moneys otherwise than by
borrowing, by dealing with securities.

(3) A borrowing of moneys, or a raising of moneys otherwise than by borrowing,
under sub-section (1) may be made, in whole or part, in a currency other than
Australian currency.

(4) An approval may be given under sub-section (1) in relation to a particular
transaction or in relation to transactions included in a class of
transactions.

(5) An approval under sub-section (1) shall be given by instrument in writing.

(6) For the purposes of this section -

   (a)  the issue by the Commission of an instrument acknowledging a debt in
        consideration of -

        (i)    the payment or deposit of moneys; or

        (ii)   the provision of credit, otherwise than in relation to a
               transaction that is in the ordinary course of the day to day
               operations of the Commission shall be deemed to be a raising by
               the Commission, otherwise than by borrowing, of an amount of
               moneys equal to the amount of the moneys paid or deposited or
               the value of the credit provided, as the case may be; and

   (b)  the obtaining of credit by the Commission otherwise than in relation
        to a transaction that is in the ordinary course of the day to day
        operations of the Commission shall be deemed to be a raising by the
        Commission, otherwise than by borrowing, of an amount of moneys equal
        to the value of the credit so obtained.