20Borrowings by Committee

#### 20 Borrowings by Committee (1) The Committee may, with the approval of the Finance Minister, borrow moneys for the purpose of the performance of its functions. (2) The Committee may give security over the whole or any part of its assets for the repayment of amounts borrowed under this section and the payment of interest on amounts so borrowed. (3) The Finance Minister may, on behalf of the Commonwealth, guarantee the repayment by the Committee of amounts borrowed under this section and the payment of interest on amounts so borrowed. (4) The Committee shall not borrow otherwise than in accordance with this section. (5) The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister. (6) In this section: > Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.