Public Trustee Act 1979
27Common fund may borrow
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27 Common fund may borrow (1) The Public Trustee may, with the approval of the Investment Board, borrow money from the Territory or at any ADI on the security of investments held by the Public Trustee in respect of a common fund. (2) An advance made under subsection (1) shall be for a period not exceeding 6 months at such rate of interest as is approved by the Attorney-General. (3) The Attorney-General may approve the renewal of an advance under subsection (1) at the expiration of the period referred to in subsection (2).
Part V Investment of estate funds and common funds Public Trustee Act 1979 15 (4) In this section: advance includes financial accommodation with an ADI by way of overdraft.