Agricultural Industry Services Act 1998
30Internal loans between funds
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30 Internal loans between funds
30 Internal loans between funds
(1) Money held by a committee in any of its funds (being money that is not yet required for the purposes of the fund in which it is held) may be lent (by way of internal loan) to any other of the committee’s funds if, and only if, the Minister so approves.
(2) In granting such an approval, the Minister must impose conditions as to the time within which the loan must be repaid and as to any additional amount, in the nature of interest, that must be paid in connection with the loan.
(3) The terms of the loan must comply with the requirements imposed by the conditions of the approval.