Document ID: chunk:federal_register_of_legislation:C2008A00129:section:6
Version: federal_register_of_legislation:C2008A00129
Segment Type: section
Provision Reference: s 6
Character Range: 1672–2322

6  Borrowing

 (1) The Minister may, on behalf of the Commonwealth, borrow money for the purposes of paying claims under the Deed of Guarantee in accordance with the Scheme Rules.

 (2) However, a borrowing in accordance with subsection (1) must not be for a period longer than 24 months.

 (3) In this section:

borrow includes raise money or obtain credit, whether by dealing in securities or otherwise, but does not include obtain credit in a transaction forming part of the day‑to‑day operations of the Commonwealth.

[Minister's second reading speech made in—
House of Representatives on 25 November 2008
Senate on 26 November 2008]
(224/08)