Commonwealth Consolidated Acts

NATIONAL RECONSTRUCTION FUND CORPORATION ACT 2023 - SECT 80

    A designated subsidiary of the Corporation must:

  (a)   only provide financial accommodation to a constitutional corporation if the financial accommodation could have been provided by the Corporation; and

  (b)   only provide financial accommodation to an entity (other than a constitutional corporation, a State or a Territory) or an individual if the financial accommodation could have been provided by the Corporation; and

  (c)   only acquire an equity interest if the interest could have been acquired by the Corporation; and

  (d)   only provide financial accommodation to a State or Territory if the financial accommodation could have been provided by the Corporation; and

  (e)   take all reasonable steps to comply with the Investment Mandate, to the extent to which the Investment Mandate is capable of applying to the activities of the subsidiary; and

  (f)   comply with policies formulated by the Board under section   75, to the extent to which the policies are capable of applying to the activities of the subsidiary; and

  (g)   only acquire derivatives for a purpose for which the Corporation may do so under section   77.