Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The responsible Ministers may give a written direction to the Corporation in relation to a class of farm business loans , but may not give a direction in relation to a particular farm business loan .
(2) Before giving a direction under subsection ( 1), the responsible Ministers must seek the Board's advice.
Water infrastructure projects
(3 ) The responsible Ministers may give a written direct ion to the Corporation to enter into an agreement , on behalf of the Commonwealth, f or the grant of financial assistance to a particular State or Territory in relation to a particular water infrastructure project . The direction may specify terms and conditions to be included in the agreement .
(3A) In giving a direction under subsection ( 3), the responsible Ministers must exercise their powers consistently with the Water Act 2007 .
(3B) Before giving a direction under subsection ( 3) in relation to a water infrastructure project that is wholly or partly within the Murray - Darling Basin (as defined by the Water Act 2007 ), the responsible Ministers must seek the Murray - Darling Basin Authority's advice as to whether, in giving the direction, the Ministers would be exercising the Ministers' powers consistently with the Basin Plan (as defined by the Water Act 2007 ).
(3C) For the purposes of subsection ( 3), any terms and conditions to be included in an agreement must be in accordance with the rules.
(3D) However, a failure to comply with subsection ( 3C) does not affect the validity of a particular term or condition included in an agreement.
(4) Before giving a direction under subsection ( 3 ), the responsible Ministers must seek the Board's advice on the particular water infrastructure project to which the direction relates.
(4A) If:
(a) the responsible Ministers give a direction under subsection ( 3) to the Corporation to enter into an agreement; and
(b) the direction is one in relation to which the responsible Ministers received advice from the Murray - Darling Basin Authority under subsection ( 3B);
then:
(c) the Board must notify the responsible Ministers when the agreement has been entered into; and
(d) the responsible Ministers must publish the advice on the internet within 30 business days of receiving the notice under paragraph ( c).
(5) The rules must prescribe, in relation to agreements to be entered into under subsection ( 3):
(a) the terms and conditions, or the kinds of terms and conditions, that may be included in an agreement; and
(b) the matters the Corporation must consider in specifying terms and conditions to be included in an agreement.