Document ID: chunk:federal_register_of_legislation:C2008A00155:clause:3_3
Version: federal_register_of_legislation:C2008A00155
Segment Type: clause
Provision Reference: sch 3 cl 3
Character Range: 20695–21406

3  Transitional—borrowing

Scope

(1) This item applies if:
 (a) the Future Fund Board borrowed money for a purpose in connection with the Higher Education Endowment Fund before the commencement of this item; and
 (b) the borrowing was authorised by subsection 29(2) or (3) of the repealed Higher Education Endowment Fund Act 2007; and
 (c) the period of the borrowing ends after the commencement of this item.

Authorisation etc.

(2) The Nation‑building Funds Act 2008 has effect as if:
 (a) the Future Fund Board had borrowed the money for a purpose in connection with the Education Investment Fund; and
 (b) the borrowing had been authorised by subsection 159(2) or (3), as the case requires, of that Act.