Document ID: chunk:federal_register_of_legislation:C2004A01035:schedule:1:p2
Version: federal_register_of_legislation:C2004A01035
Segment Type: schedule
Provision Reference: sch 1 (pt 2/3)
Character Range: 3898–6724

commencement of this item, the amendments made by this Part are to be disregarded.
Part 2—Finance
12 Section 5
Insert:
associated company, in relation to the Institute, means a company where the Institute is in a position to cast, or control the casting of, 15% or more of the maximum number of votes that might be cast at a general meeting of the company.
13 Section 5
Insert:
borrowing includes raising money or obtaining credit, whether by dealing in securities or otherwise, but does not include obtaining credit in a transaction forming part of the day‑to‑day operations of the Institute.
14 Section 5
Insert:
Finance Minister means the Minister administering the Commonwealth Authorities and Companies Act 1997.
15 After paragraph 10(2)(h)
Insert:
(ha) to lend money to associated companies of the Institute;
(hb) with the written approval of the Finance Minister, to provide guarantees for the benefit of associated companies of the Institute;
16 Subsection 36(2)
Omit "Minister for Finance", substitute "Finance Minister".
17 Paragraph 38(1)(a)
Repeal the paragraph, substitute:
(a) in payment or discharge of the costs, expenses and other obligations incurred by the Institute in the performance of its functions or the exercise of its powers; and
18 Paragraph 38(1)(b)
Omit "this Act.", substitute "this Act; and".
19 At the end of subsection 38(1)
Add:
(c) in making any other payments which the Institute is authorised or required to make under this Act or any other law.
20 Section 42
Omit "exceeding $100,000.", substitute:
exceeding:
(a) $1 million; or
(b) if a higher amount is specified in the regulations—that higher amount.
21 After section 42
Insert:
42A Borrowing from Commonwealth
The Finance Minister may, on behalf of the Commonwealth, out of money appropriated by the Parliament for the purpose, lend money to the Institute on such terms and conditions as he or she determines in writing.
42B Borrowing from persons other than the Commonwealth
(1) The Institute may, with the Finance Minister's written approval, borrow money from persons other than the Commonwealth on terms and conditions specified in, or consistent with, the approval.
(2) Money may be borrowed wholly or partly in foreign currency.
42C Guarantee of borrowings by Institute
(1) The Finance Minister may, on behalf of the Commonwealth, enter into a contract guaranteeing the performance by the Institute of obligations incurred by it under section 42B.
(2) If the Finance Minister determines in writing that obligations incurred by the Institute under section 42B are guaranteed by the Commonwealth, the obligations become so guaranteed.
(3) A contract under subsection (1) may include:
(a) a provision agreeing that proceedings under the contract may be taken in courts of a foreign country; or
(b) a provision waiving the immunity