93HRefinancing infrastructure borrowing

93H Refinancing infrastructure borrowing

[Meaning of refinancing infrastructure borrowing] (1) A refinancing infrastructure borrowing is a borrowing of money where: (a) the borrower requirements set out in section 93I are met; and (b) the borrower intends, at the time of the borrowing, to use the money borrowed only: (i) to repay the whole or part of any of the following borrowings: (A) a direct infrastructure borrowing; or (B) an indirect infrastructure borrowing; or (C) a borrowing that is a refinancing infrastructure borrowing because of another application of this subsection; where a certificate held by the borrower is in force in relation to the borrowing to be wholly or partly repaid; and (ii) if the money is not able to be used to make the repayment immediately after it is borrowed—by investing it in a prescribed investment until it is. [Interpretive provision] (2) For the purposes of references in this Chapter, a refinancing infrastructure borrowing relates to a direct infrastructure borrowing or to an indirect infrastructure borrowing if the repayment mentioned in subparagraph (1)(b)(i) is of: (a) the direct infrastructure borrowing or the indirect infrastructure borrowing, as the case may be; or (b) another refinancing infrastructure borrowing that, under a previous application of this subsection, relates to the direct infrastructure borrowing or the indirect infrastructure borrowing, as the case may be.