UNIVERSITY OF NOTRE DAME AUSTRALIA ACT 1989 - SECT 25B

UNIVERSITY OF NOTRE DAME AUSTRALIA ACT 1989 - SECT 25B

25B .         Minister may lend money

        (1)         The Minister may lend money for capital works to the University, provided the works are for the purposes of the objects of the University.

        (2)         Any such loan is to be made out of moneys borrowed by the Minister under section 25C.

        (3)         The terms and conditions of any such loan, including the interest to be paid —

            (a)         may be less onerous than those that might reasonably apply to such a loan made commercially; and

            (b)         are to be approved by the Treasurer.

        (4)         In subsection (1) —

        capital works means the acquisition of land, the construction, modification and renovation of buildings and the purchase of plant and equipment, or any of those things.

        [Section 25B inserted: No. 27 of 1998 s. 8.]