Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsection (3), the Corporation may enter into or deal with contracts, and make other arrangements, in relation to financial futures or foreign currency (including foreign currency futures) for the purpose of reducing or eliminating risks of adverse financial consequences to the Corporation in relation to:
(a) any contract (including a contract that may be entered into under this section), or proposed contract, involving the payment or receipt of money by the Corporation; or
(b) a borrowing or raising of money by the Corporation or a proposed borrowing or raising of money by the Corporation (including a borrowing or raising of money by the Corporation by dealing with securities);
being risks that may arise from variations in the rate of currency exchange or rate of interest applicable to the contract or proposed contract, or to the borrowing or raising of money or proposed borrowing or raising of money, as the case may be, referred to in paragraph (a) or (b).
(2) The Minister may, by determination in writing:
(a) set guidelines for the purpose of the exercise by the Corporation of its power under subsection (1); and
(b) revoke or vary guidelines set for that purpose or set new guidelines for that purpose;
and shall give to the Corporation a copy of each determination made under this subsection.
(3) If the Corporation enters into a contract, dealing or other arrangement under subsection (1), it must do so in accordance with the guidelines (if any) in force under subsection (2).
(4) A contract, dealing or other arrangement under subsection (1) does not require the approval of the Minister under subsection 70(1).
(5) In this section:
"proposed borrowing or raising of money" means a proposed borrowing or raising of money that has been approved by the Finance Minister under section 70B.