THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

SECTION 930B MONEY BORROWED AND PAID TO SEGC

930B(1) [Money paid to SEGC]

This section applies where money borrowed by SEGC under subsection 930A(1) is paid to SEGC.

930B(2) [Payment into Fund]

SEGC must pay the money into the Fund.

930B(3) [Purpose of borrowing]

If:

(a) the money was borrowed for the purpose of meeting a payment due out of the Fund; and

(b) the borrowed money has been paid into the Fund; and

(c) the payment due out of the Fund has not yet been made;

then, for the purposes of Division 4, the amount in the Fund is taken to be reduced by the amount of the borrowed money.