Document ID: chunk:federal_register_of_legislation:C2004A03739:body:0:p5
Version: federal_register_of_legislation:C2004A03739
Segment Type: other
Provision Reference: 
Character Range: 11778–14682

occupational health, industrial safety, industrial democracy, nondiscriminatory employment practices and other matters.".
(2) Where a person is, immediately before commencement, an officer or a temporary employee of the Corporation, the person shall, upon commencement, be taken to be employed by the Corporation under section 32 of the amended Act.
(3) A person to whom subsection (2) applies shall be taken to be employed on the terms and conditions that were applicable to the person immediately before commencement.
(4) Subsection (3) does not apply to a person if the Corporation makes a determination under subsection 32 (2) of the amended Act and that determination:
     (a) applies to the person; and
     (b) takes effect on the day of commencement.
(5) Subsection (3) continues to apply to a person until the Corporation makes a determination under subsection 32 (2) of the amended Act and that determination applies to the person.
(6) In this section:
     "amended Act" means the Principal Act as amended by this section;
     "commencement" means the commencement of this section.

Application and investment of money
9. Section 68 of the Principal Act is amended:
     (a) by omitting "The moneys" and substituting "Subject to subsection (2), the money";
     (b) by adding at the end the following subsections:
    "(2) Money of the Corporation that is not immediately required for the purposes of the Corporation may be invested:
         (a) on fixed deposit with an approved bank;
         (b) in securities of the Commonwealth; or
         (c) in any other manner approved by the Treasurer.
         "(3) In subsection (2):
         'approved bank' means the Reserve Bank of Australia or a bank approved by the Treasurer for the purposes of this section.".

10. After section 70 of the Principal Act the following sections are inserted:

Borrowing from Commonwealth
"70a. (1) The Minister for Finance may, on behalf of the Commonwealth, lend money to the Corporation.
"(2) The money shall be lent on the terms and conditions determined by the Minister for Finance.
"(3) A determination under subsection (2) shall be in writing.
"(4) The money shall be lent out of money appropriated by the Parliament for that purpose.

Borrowings otherwise than from Commonwealth
"70b: (1) The Corporation may, with the approval of the Treasurer:
     (a) borrow money from someone other than the Commonwealth; or
     (b) raise money otherwise than by borrowing it.
"(2) An approval under subsection (1) shall be in writing.
"(3) The Corporation may borrow or raise money under subsection (1) only on terms and conditions that are specified in, or are consistent with, the approval under that subsection.
"(4) Without limiting subsection (1), the Corporation may borrow or raise money under that subsection by dealing with securities.
"(5) Without limiting subsection (1), the Corporation may borrow