24Raising of money by Corporation

24 Raising of money by Corporation

(1) Subject to subsection (2), the Corporation may, for the purpose of the performance of its functions:

(a) borrow money otherwise than by dealing with securities; or

(b) borrow money, or otherwise raise money, by dealing with securities.

(2) The Corporation shall not borrow or otherwise raise money exceeding a total amount of $2,000,000 in a financial year except with the approval of the Minister and on such terms and conditions (if any) as are specified in the approval. (3) A reference in this section to dealing with securities includes a reference to:

(a) creating, executing, entering into, drawing, making, accepting, indorsing, issuing, discounting, selling, purchasing or reselling securities;

(b) creating, selling, purchasing or reselling rights or options in respect of securities; and

(c) entering into agreements or other arrangements relating to securities.

(4) In this section, securities includes stock, debentures, debenture stock, notes, bonds, promissory notes, bills of exchange and similar instruments or documents.