Western Australian Consolidated Acts

LOANS (CO-OPERATIVE COMPANIES) ACT 2004 - SECT 5

5 .         Loans by State to eligible co-operatives

        (1)         The Minister acting on behalf of, and in the name of, the State may make a loan to an eligible co-operative for a purpose mentioned in section 120(1)(c) of the Income Tax Act.

        (2)         A loan under this section may be made on such terms and conditions as the Minister thinks fit as to —

            (a)         repayment;

            (b)         interest and administration charges;

            (c)         security to be provided to protect the State from the risk of default; or

            (d)         any other matter.

        (3)         Without limiting subsection (2), a loan is not to be made under this section unless the —

            (a)         repayment of it; and

            (b)         payment of interest and administration charges relating to it,

                are secured by a guarantee of a kind approved by the Treasurer.