Commonwealth Consolidated Acts

WINE AUSTRALIA ACT 2013 - SECT 34

  (1)   The Authority may, with the approval of the Minister:

  (a)   borrow money otherwise than from the Commonwealth; or

  (b)   raise money otherwise than by borrowing;

on terms and conditions that are specified in, or consistent with, the approval.

  (2)   Without limiting the generality of subsection   ( 1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.

  (3)   A borrowing of money, or a raising of money otherwise than by borrowing, under subsection   ( 1), may be made, in whole or in part, in a currency other than Australian currency.

  (4)   An approval may be given under subsection   ( 1) in relation to a particular transaction or in relation to transactions included in a class of transactions.

  (5)   An approval under subsection   ( 1) shall be given in writing.

  (6)   For the purposes of this section:

  (a)   the issue by the Authority of an instrument acknowledging a debt in consideration of:

  (i)   the payment or deposit of money; or

  (ii)   the provision of credit;

    otherwise than in relation to a transaction that is in the ordinary course of the day - to - day operations of the Authority shall be deemed to be a raising by the Authority , otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and

  (b)   the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day - to - day operations of the Authority shall be deemed to be a raising by the Authority , otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.

  (7)   In this section, securities includes stocks, debentures, debenture stocks, notes, bonds, promissory notes, bills of exchange and similar instruments or documents.

  (8)   A reference in this section to dealing with securities includes a reference to:

  (a)   creating, executing, entering into, drawing, making, accepting, indorsing, issuing, discounting, selling, purchasing or re - selling securities;

  (b)   creating, selling, purchasing or re - selling rights or options in respect of securities; and

  (c)   entering into agreements or other arrangements relating to securities.