28RBorrowing by the Board

##### 28R Borrowing by the Board (1) The Board may borrow money for the exercise of its powers and functions. (2) The Board must not allow the total of outstanding debts incurred under subsection (1) to exceed $2,000,000 without the approval in writing of the Commonwealth Minister and the State Minister. (3) An approval may be given in relation to a particular transaction or a class of transactions. (4) Money borrowed under an approval must be on terms and conditions specified in, or consistent with, the approval. (5) Money may be borrowed wholly or partly in foreign currency. (6) The Board must not borrow money except in accordance with this section. (7) The Board may give security over the whole or part of its assets for the performance of any obligation incurred under subsection (1). (8) In this section: > borrowing includes raising money or obtaining credit, whether by dealing in securities or otherwise, but does not include obtaining credit in a transaction forming part of the day‑to‑day operations of the Board.