Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to any directions under section 26, EFIC may refer to the Minister an application for EFIC to:
(a) enter into a contract of insurance or indemnity under Part 4; or
(b) give a guarantee under Part 4; or
(c) make a loan under Part 4.
(2) An application relating to a proposed contract or a proposed guarantee may be referred to the Minister whether or not EFIC is authorised to enter into the contract or give the guarantee and whether or not it would do so in the ordinary course of business.
(3) An application relating to a proposed loan may be referred to the Minister:
(a) whether or not EFIC is authorised to make the loan, or to make the loan on the terms and conditions proposed; and
(b) whether or not EFIC would make the loan, or would make the loan on the terms and conditions proposed, in the ordinary course of business.