Western Australian Consolidated Acts

PORT AUTHORITIES ACT 1999 - SECT 85

85 .         Borrowing

        (1)         A port authority may, subject to section 86 — 

            (a)         borrow or re-borrow moneys;

            (b)         obtain credit;

            (c)         issue, acquire, hold or dispose of debt paper;

            (d)         create and issue capital instruments; or

            (e)         otherwise arrange for financial accommodation to be extended to the port authority.

        (2)         Capital instruments under subsection (1)(d) are to be created and issued on such terms as a port authority determines and the Minister approves.

        (3)         A port authority is to keep such registers for the purposes of this section as may be prescribed.

        (4)         In subsection (1) — 

        debt paper means inscribed stock, bonds, debentures with coupons annexed, bills of exchange, promissory notes or bearer securities, or other similar instruments evidencing indebtedness.