WHEAT MARKETING ACT 1989No. 58, 1989 - SECT 71 Raising of money by the Board

WHEAT MARKETING ACT 1989No. 58, 1989 - SECT 71

71. (1) Subject to subsection (2), the Board may:

   (a)  borrow money; or

   (b)  raise money by dealing with securities.

(2) The Board shall not borrow or raise money except with the written approval
of the Minister.

(3) An approval may be given in relation to a particular transaction or a
class of transactions.

(4) A borrowing or raising of money under an approval shall be on terms and
conditions specified in, or consistent with, the approval.

(5) Subject to subsection (4), a borrowing or raising of money may be made in
whole or in part in a currency other than Australian currency.

(6) The Board may give security over the whole or any part of its assets for:

   (a)  the repayment of money borrowed in accordance with this section and
        the payment of money (including interest) that the Board is otherwise
        liable to pay in respect of such borrowings; and

   (b)  the payment of any money (including interest) that the Board is liable
        to pay in respect of dealing with securities in accordance with this
        section.

(7) The Treasurer may, on behalf of the Commonwealth, guarantee the repayment
of amounts borrowed under subsection (1) and the payment of interest on
amounts so borrowed.

(8) The Board shall not borrow or otherwise raise money except in accordance
with this section or section 77.

(9) A reference in this section to dealing with securities includes a
reference to:

   (a)  creating, executing, entering into, drawing, making, accepting,
        endorsing, issuing, discounting, selling, purchasing or reselling
        securities;

   (b)  creating, selling, purchasing or reselling rights or options in
        respect of securities; and

   (c)  entering into agreements or other arrangements relating to securities.