Commonwealth Numbered Acts

EXPORT FINANCE AND INSURANCE CORPORATION ACT 1974 No. 122 of 1974 - SECT 17

17. (1) Subject to sub-section (2), the Corporation may enter into a contract
with an approved foreign insurer under which an indemnity or guarantee is
given to that insurer in respect of the liability of that insurer under a
foreign contract of indemnity relating to a transaction involving-

   (a)  goods exported, or to be exported, from Australia by a person carrying
        on business in Australia or goods in the production or treatment of
        which goods so exported, or to be so exported, have been, or are to
        be, used; or

   (b)  services rendered, or to be rendered, (whether in or outside
        Australia) to a person carrying on business outside Australia by a
        person carrying on business in Australia.

(2) A contract entered into by the Corporation under sub-section (1) shall
relate only to such part of the liability of the approved foreign insurer as
may reasonably be regarded as related to the goods exported, or to be
exported, from Australia or to the services rendered, or to be rendered, by
the person carrying on business in Australia.