Document ID: chunk:federal_register_of_legislation:C2024C00824:section:59
Version: federal_register_of_legislation:C2024C00824
Segment Type: section
Provision Reference: s 59
Character Range: 75850–76767

59  Other borrowings
 (1) EFIC may, with the written approval of the Finance Minister:
 (a) borrow money otherwise than from the Commonwealth; or
 (b) raise money otherwise than by borrowing;
on such terms and conditions as are specified in the approval.
 (2) One of the ways in which EFIC may borrow or raise money under subsection (1) is by dealing with securities.
 (3) An approval under subsection (1) may relate to:
 (a) a particular transaction; or
 (b) a class of transactions.
 (4) The Finance Minister may, by written instrument, delegate any of the Finance Minister's powers or functions under this section to an official (within the meaning of the Public Governance, Performance and Accountability Act 2013) of a non‑corporate Commonwealth entity (within the meaning of that Act). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.