DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 (REPEALED)

CHAPTER 3 - INFRASTRUCTURE BORROWINGS  

PART 3 - CERTIFICATES  

Division 1 - Issue, variation and transfer etc.  

SECTION 93O   CRITERIA FOR ISSUING CERTIFICATE  

93O(1)   Criteria.  

Subject to subsection (2) and sections 93P and 93PA , the DAA must issue the certificate if:

(a) in any case - the DAA is satisfied that:

(i) the proposed borrowing is an infrastructure borrowing; and

(ii) the dates specified in the application in accordance with subsection 93N(3) are reasonable; and

(b) in the case of an indirect infrastructure borrowing where a certificate is not in force in relation to the other borrowing mentioned in subparagraph 93G(b)(i) - the DAA decides to issue such a certificate at the same time as it issues the certificate in relation to the indirect infrastructure borrowing.

93O(2)   Laws restricting competition.  

If:

(a) the borrowing is a direct infrastructure borrowing; and

(b) there is in force, at the time at which the DAA proposes to issue the certificate in relation to the borrowing, a law that the DAA is satisfied will prohibit or restrict the operation of other facilities in competition with the infrastructure facilities concerned;

the DAA must not issue the certificate.