SCHOOL EDUCATION ACT 1999 - SECT 187

SCHOOL EDUCATION ACT 1999 - SECT 187

187 .         Minister may borrow moneys to make s. 186 loan

        (1)         The Minister may borrow moneys for the purpose of lending under section 186 —

            (a)         from the Treasurer on such terms and conditions relating to repayment and payment of interest as the Treasurer imposes; or

            (b)         with the prior written approval of the Treasurer and on such terms and conditions as the Treasurer approves, from persons other than the Treasurer.

        (2)         Any moneys borrowed by the Minister under subsection (1)(b) may be raised —

            (a)         as one loan or as several loans; and

            (b)         in such manner as the Treasurer approves.

        (3)         The total amount of the moneys borrowed by the Minister under subsection (1)(b) in any one financial year is not to exceed such amount as the Treasurer approves.