(1) The Minister
acting on behalf of, and in the name of, the State may make a loan to an
eligible co-operative for a purpose mentioned in section 120(1)(c) of the
Income Tax Act.
(2) A loan under this
section may be made on such terms and conditions as the Minister thinks fit as
to —
(a)
repayment;
(b)
interest and administration charges;
(c)
security to be provided to protect the State from the risk of default; or
(d) any
other matter.
(3) Without limiting
subsection (2), a loan is not to be made under this section unless the —
(a)
repayment of it; and
(b)
payment of interest and administration charges relating to it,
are secured by a
guarantee of a kind approved by the Treasurer.