Commonwealth Numbered Acts

AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 No. 105 of 1978 - SECT 37

37. (1) The Corporation may, with the approval of the Treasurer, borrow moneys
that are from time to time necessary for the exercise of its powers or the
performance of its duties or functions under this Act.

(2) The Minister for Finance may, on behalf of the Commonwealth, out of moneys
appropriated by the Parliament for the purpose, lend to the Corporation, at
such rate of interest and on such other terms and conditions as he determines,
moneys that the Corporation is authorized to borrow under sub-section (1).

(3) The Corporation may give security over the whole or any part of its assets
for the repayment of amounts borrowed under this section and the payment of
interest on amounts so borrowed.

(4) The Treasurer may, on behalf of the Commonwealth, guarantee the repayment
by the Corporation of amounts borrowed under this section otherwise than from
the Commonwealth and the payment of interest on amounts so borrowed.

(5) The Corporation shall not borrow moneys except in accordance with this
section.