Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of the application of this Division to a particular individual and a particular company or trust, if:
(a) the company or trust is the borrower under a loan; and
(b) the loan is not secured by a charge or encumbrance over one or more of the assets of the company or trust;
the Secretary may, by writing, determine that the value of a specified asset of the company or trust is to be reduced by the whole, or a specified part, of the amount of the loan.
(2) A determination under subsection (1) has effect accordingly.
(3) In making a determination under subsection (1), the Secretary must comply with any relevant decision - making principles.