Future Made in Australia (Production Tax Credits and Other Measures) Act 2025 (9 of 2025)

Schedule 3   Amendments relating to Indigenous Business Australia

Aboriginal and Torres Strait Islander Act 2005

2   Section 183

Repeal the section, substitute:

183 Borrowing

(1) Indigenous Business Australia must not borrow money for a purpose in connection with Indigenous Business Australia's functions unless the borrowing is authorised by subsection (2) or under section 57 of the Public Governance, Performance and Accountability Act 2013.

(2) Indigenous Business Australia rules (see section 189A) may prescribe:

(a) circumstances in which Indigenous Business Australia may borrow money for a purpose in connection with Indigenous Business Australia's functions; and

(b) limits or conditions on the borrowing of such money.

(3) The Minister must not make Indigenous Business Australia rules for the purposes of subsection (2) without the written agreement of the Finance Minister.

(4) Indigenous Business Australia rules made for the purposes of subsection (2) prevail over the following, to the extent of any inconsistency:

(a) a written authorisation by the Finance Minister under paragraph 57(1)(b) of the Public Governance, Performance and Accountability Act 2013;

(b) rules made for the purposes of paragraph 57(1)(c) of that Act.

Note: Section 57 of the Public Governance, Performance and Accountability Act 2013 deals with borrowing by a corporate Commonwealth entity.

(5) For the purposes of this Part, borrow includes raising money or obtaining credit, including by any of the following ways:

(a) dealing in securities;

(b) obtaining an advance on overdraft;

(c) obtaining credit by way of credit card or credit voucher.