Section 889E — Corporations Act 2001 (Cth)

(1) If the SEGC considers that, in the interests of the sound financial management of the NGF, money should be borrowed for the purpose of meeting a payment due out of the NGF, the SEGC may borrow money for that purpose on such terms and conditions as the SEGC thinks appropriate.

(2) The SEGC may give security, including over the assets of the NGF, in respect of the SEGC’s obligations in relation to a borrowing under subsection (1).

(3) If:

(a) money borrowed under subsection (1) is a loan from a body corporate that is a member of the SEGC; and

(b) the body corporate borrowed money for the purpose of making the loan to the SEGC;

the SEGC may give security, including over the assets of the NGF, in relation to the body corporate’s obligations in respect of the borrowing referred to in paragraph (b).

Related sections

• s 889B — Compensation to be provided out of the NGF
• s 889C — The SEGC to keep the NGF
• s 889D — What the NGF consists of
• s 889F — Money borrowed and paid to the SEGC
• s 889G — Money borrowed and not paid to the SEGC
• s 889H — Payments out of the NGF

Research how courts apply s 889E

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