Export Finance and Insurance Corporation Act 1991 - Determination under section 67(1) (04/07/2007)
DETERMINATION UNDER SECTION 67(1)DETERMINATION UNDER SECTION 67(1)
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DETERMINATION UNDER SECTION 67(1)
I, WARREN TRUSS, Minister of State for Trade for the Commonwealth of Australia, in the exercise of my powers under section 67(1) of the Export Finance and Insurance Corporation Act 1991 hereby:
REVOKE all Ministerial determinations made under section 67 of the Export Finance and Insurance Corporation Act 1991.
And
DETERMINE that the Commonwealth will compensate the Export Finance and Insurance Corporation, by way of subsidy, for any excess of interest paid over interest received on loans provided by the Export Finance and Insurance Corporation and interest rate make-up amounts on indemnities and guarantees provided by the Export Finance and Insurance Corporation in conformity with the minimum fixed interest rates prescribed by the OECD Arrangement on Officially Supported Export Credits.
DATED this 4th day of July 2007.
WARREN TRUSS
Minister for Trade