35Loans by Minister

35 Loans by Minister

(1)  *[Section 35 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]*Where, on an application for a loan under section 9 (2) (b) , TDR is of opinion that the grant of the loan would not be in accordance with the powers conferred by that section but that the grant of a loan would assist in the development, expansion, or retention of a business undertaking, TDR may recommend to the Minister that he grant a loan of money under this section.

(2)  *[Section 35 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]*On making a recommendation under subsection (1) TDR shall refer the application for the loan to the Minister and shall provide the Minister with such additional information as it thinks fit.

(3)  *[Section 35 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]*Where TDR makes a recommendation under subsection (1) that a loan of money be granted to a person, the Minister may, with the approval of the Treasurer and for the purposes of this Act, make a loan of money to that person, with or without security and on such terms and conditions as the Minister thinks fit.

(4)  *[Section 35 Subsection (4) amended by No. 76 of 1995, s. 28 and Sched. 1 ]*For the purposes of this section –

(a) TDR shall provide the Minister with such information as he may request; and

(b) the Minister may direct TDR to carry out such investigations, and to make recommendations to him on such questions, as he may determine.

(5)  *[Section 35 Subsection (5) amended by No. 76 of 1995, s. 28 and Sched. 1 ]*TDR shall comply with a direction given to it by the Minister under subsection (4) (b) .