Document ID: chunk:federal_register_of_legislation:F2020C00878:reg:15
Version: federal_register_of_legislation:F2020C00878
Segment Type: reg
Provision Reference: reg 15
Character Range: 14020–14747

15  Maximum amount of expanded drought loans
 (1) The Corporation must not grant a loan that exceeds the maximum loan amount.
 (2) The maximum loan amount, for an eligible farm business, is the lesser of the following:
 (a) an amount that would result in the business holding 50% of its total debt in Commonwealth‑funded concessional loans;
 (b) $2 million.
 (3) The total debt of an eligible farm business is the sum of:
 (a) the business's commercial debt; and
 (b) the amount owing under each Commonwealth‑funded concessional loan provided to the business.
Note: The program guidelines published under section 26 must deal with the kind of loans that the Corporation considers to be Commonwealth‑funded concessional loans.