Document ID: chunk:federal_register_of_legislation:C2024C00824:section:23a
Version: federal_register_of_legislation:C2024C00824
Segment Type: section
Provision Reference: s 23A
Character Range: 43439–44413

23A  Loans to support overseas infrastructure development
 (1) EFIC may lend money for the purpose of supporting overseas infrastructure development.
Note: EFIC's power under subsection (1) to lend money includes the power to provide finance, to provide a financial accommodation or to make an equity investment, in any form: see subsection 3(2).
 (2) The money may be lent to such person or persons as EFIC thinks appropriate.
 (3) However, EFIC must not lend money under this section unless EFIC reasonably believes that lending the money is likely to result in an Australian benefit.
Note: See also subsection 8(4).
 (4) In addition, EFIC must not lend money in the form of an equity investment under this section unless the application for the loan has been referred to the Minister under section 25.
Note: A direction under section 26 may prevent such applications from being referred to the Minister. EFIC cannot lend money under this section in those circumstances.