6Drought Loans Expansion Program prescribed

6 Drought Loans Expansion Program prescribed

(1) For the purposes of paragraph 8(1)(g) of the Act, this section prescribes the Drought Loans Expansion Program. (2) The Drought Loans Expansion Program is the program that: (a) consists of the following activities: (i) receiving applications for expanded drought loans, and dealing with the applications in accordance with Division 2; (ii) making expanded drought loans in accordance with Division 3; (iii) determining, in accordance with Division 4, the terms and conditions on which expanded drought loans are made; (iv) taking security for expanded drought loans; (v) charging borrowers for transaction costs incurred by the Corporation in relation to expanded drought loans; (vi) collecting and dealing with payments of interest on, and repayments of principal of, expanded drought loans, and if required, enforcing security taken for such loans, in accordance with Division 5; (vii) seeking, where the Corporation considers it appropriate, to recover any costs the Corporation incurs in taking action to enforce a loan agreement; (viii) periodically reviewing expanded drought loans and the terms and conditions on which they are made; (ix) dealing with debts relating to expanded drought loans in accordance with Division 6; (x) reporting to the responsible Ministers on expanded drought loans in accordance with Division 7; and (b) relates to expanded drought loans funded in accordance with Division 8.