49Capital

49 Capital

(1) The capital of the Authority is equal to the sum of—

(a) the assets and liabilities of the Authority; and

(b) any part of the Authority's liabilities that is converted into capital at the direction of the Treasurer; and

(c) any amounts paid to the Authority out of money appropriated by the Parliament for the purpose of providing capital; and

(d) any part of the Authority's reserves that is converted into capital at the direction of the Treasurer after consultation with the board—

less any amount of capital repaid under subsection (2).

(2) The capital of the Authority is repayable to the State at the times, and in the amounts, as the Treasurer, after consultation with the Minister and the board, directs in writing.

(3) In giving a direction under subsection (2), the Treasurer is to have regard to any advice that the board has given to the Treasurer in relation to the Authority's affairs.