Commonwealth Numbered Acts

EXPORT FINANCE AND INSURANCE CORPORATION ACT 1974 No. 122 of 1974 - SECT 18

18. (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 to an external
        Territory 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 Australia or in an
        external Territory) to a person carrying on business in an external
        Territory 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.
(3) In this section, "Australia" does not include the external Territories.