Document ID: chunk:federal_register_of_legislation:C2017C00269:section:57
Version: federal_register_of_legislation:C2017C00269
Segment Type: section
Provision Reference: s 57
Character Range: 68727–69362

57  Borrowing by corporate Commonwealth entities
 (1) An agreement for the borrowing of money by a corporate Commonwealth entity (including by obtaining an advance on overdraft or obtaining credit by way of credit card or credit voucher) is of no effect unless:
 (a) borrowing by the entity is expressly authorised by or under an Act; or
 (b) the borrowing is authorised by the Finance Minister in writing; or
 (c) the borrowing is authorised by the rules.
 (2) An authorisation under paragraph (1)(b) is a legislative instrument, but section 42 (disallowance) of the Legislation Act 2003 does not apply to it.

Division 5—Investment