7Provision of financial assistance to constitutional corporations

7 Provision of financial assistance to constitutional corporations

Applications (1) A constitutional corporation may apply to Creative Australia for financial assistance. (2) Creative Australia must consider an application made under subsection (1) within a reasonable period after the application is made. (3) Creative Australia may provide financial assistance in the performance of its functions to a constitutional corporation only if the corporation has applied to Creative Australia for the assistance under subsection (1). Terms and conditions (4) If Creative Australia decides to provide financial assistance to a constitutional corporation: (a) the terms and conditions on which the assistance is to be provided must be set out in a written agreement between Creative Australia and the corporation; and (b) the corporation must comply with the terms and conditions. (5) Without limiting subsection (4), the terms and conditions must provide for the circumstances in which the corporation must repay amounts of financial assistance or any other amounts to Creative Australia. (6) An amount payable to Creative Australia under the agreement: (a) is a debt due to Creative Australia; and (b) may be recovered by Creative Australia in a court of competent jurisdiction.