sec.18Borrowing powers of Corporation

### sec.18 Borrowing powers of Corporation Subject to subsection (3) , the Corporation, in the attainment of its objectives and the discharge of its functions under this Act, has the power, either alone or jointly with, or jointly and severally with any statutory body or other person, to borrow or raise money or enter into any other financial arrangements either in Queensland or elsewhere as a borrower or as a party in the nature of a borrower or as an acquirer of financial accommodation, as it thinks fit. Financial arrangements entered into in accordance with subsection (1) may be made— with the Treasurer; or with statutory bodies; or with other persons. The Governor in Council may at any time prior to the Corporation’s entering into a financial arrangement under this section impose limits on or determine conditions for that financial arrangement and the Corporation shall comply with such limits or conditions. A failure by the Corporation to comply with subsection (3) shall not invalidate the relevant financial arrangement which shall be enforceable by all the parties thereto in accordance with its terms. s 18 amd 1995 No. 58 s 4 sch 1 (sec.18-ssec.1) Subject to subsection (3) , the Corporation, in the attainment of its objectives and the discharge of its functions under this Act, has the power, either alone or jointly with, or jointly and severally with any statutory body or other person, to borrow or raise money or enter into any other financial arrangements either in Queensland or elsewhere as a borrower or as a party in the nature of a borrower or as an acquirer of financial accommodation, as it thinks fit. (sec.18-ssec.2) Financial arrangements entered into in accordance with subsection (1) may be made— with the Treasurer; or with statutory bodies; or with other persons. (sec.18-ssec.3) The Governor in Council may at any time prior to the Corporation’s entering into a financial arrangement under this section impose limits on or determine conditions for that financial arrangement and the Corporation shall comply with such limits or conditions. (sec.18-ssec.4) A failure by the Corporation to comply with subsection (3) shall not invalidate the relevant financial arrangement which shall be enforceable by all the parties thereto in accordance with its terms. - (a) with the Treasurer; or - (b) with statutory bodies; or - (c) with other persons.