TELECOMMUNICATIONS ACT 1975 No. 55 of 1975 - SECT 72 Borrowing by Commission.

TELECOMMUNICATIONS ACT 1975 No. 55 of 1975 - SECT 72

72. (1) The Commission may, with the approval of the Treasurer, borrow moneys
that are from time to time necessary for the performance of its functions.

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

(3) The Commission 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 Australia, guarantee the repayment by the
Commission of amounts borrowed under this section otherwise than from
Australia and the payment of interest on amounts so borrowed.

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