9BSpecial powers of the Corporation

9B Special powers of the Corporation

9B Special powers of the Corporation

(1) The Corporation has power to impose conditions relating to the provision by it of borrowings, the management by it of borrowings provided by it and the repayment of borrowings provided by it. Such a condition can be imposed before or after the borrowings are provided.

(2) The Corporation has power to replace securities and other like instruments evidencing borrowings that have been issued by the Government, a public authority or another public body with securities or other like instruments issued by the Government or the Corporation, subject to the following:

(a) the Corporation is not authorised to replace securities or other like instruments if the holder objects (in the manner required by the regulations) to the exchange,

(b) the terms and conditions on which securities and other like instruments can be replaced under this section are the terms and conditions determined by the Treasurer.

(3) The Corporation is empowered to act on behalf of, or as agent for, the Government in the negotiation, entering into and carrying out of any agreement to obtain finance.

(4) This section is not to be read as limiting the powers of the Corporation.

s 9B: Ins 1992 No 113, Sch 1 (4). Am 2018 No 70, Sch 3.63 [6] [15].