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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS    View history reference

Division 4 - NGF Compensation regime    View history reference

Subdivision C - The NGF    View history reference

SECTION 889E  POWER TO BORROW ETC. FOR PURPOSES OF THE NGF  

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889E(1)  [Power to borrow]  


If the SEGC considers that, in the interests of the sound financial management of the NGF, money should be borrowed for the purpose of meeting a payment due out of the NGF, the SEGC may borrow money for that purpose on such terms and conditions as the SEGC thinks appropriate.

889E(2)  [Power to give security]  


The SEGC may give security, including over the assets of the NGF, in respect of the SEGC's obligations in relation to a borrowing under subsection (1).

889E(3)  [Power to give security over member loan]  


If:


(a) money borrowed under subsection (1) is a loan from a body corporate that is a member of the SEGC; and


(b) the body corporate borrowed money for the purpose of making the loan to the SEGC;

the SEGC may give security, including over the assets of the NGF, in relation to the body corporate's obligations in respect of the borrowing referred to in paragraph (b).


 



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