DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 (REPEALED)

CHAPTER 3 - INFRASTRUCTURE BORROWINGS  

PART 2 - INTERPRETATION: INFRASTRUCTURE BORROWINGS ETC.  

SECTION 93H   REFINANCING INFRASTRUCTURE BORROWING  

93H(1)   Meaning of refinancing infrastructure borrowing .  

A refinancing infrastructure borrowing is a borrowing of money where:

(a) the borrower requirements set out in section 93I are met; and

(b) the borrower intends, at the time of the borrowing, to use the money borrowed only:

(i) to repay the whole or part of any of the following borrowings:

(A) a direct infrastructure borrowing; or

(B) an indirect infrastructure borrowing; or

(C) a borrowing that is a refinancing infrastructure borrowing because of another application of this subsection;

where a certificate held by the borrower is in force in relation to the borrowing to be wholly or partly repaid; and

(ii) if the money is not able to be used to make the repayment immediately after it is borrowed - by investing it in a prescribed investment until it is.

93H(2)   Interpretive provision.  

For the purposes of references in this Chapter, a refinancing infrastructure borrowing relates to a direct infrastructure borrowing or to an indirect infrastructure borrowing if the repayment mentioned in subparagraph (1)(b)(i) is of:

(a) the direct infrastructure borrowing or the indirect infrastructure borrowing, as the case may be; or

(b) another refinancing infrastructure borrowing that, under a previous application of this subsection, relates to the direct infrastructure borrowing or the indirect infrastructure borrowing, as the case may be.