DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 (REPEALED)
View history note
Hide history noteA 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; orwhere a certificate held by the borrower is in force in relation to the borrowing to be wholly or partly repaid; and
(C) a borrowing that is a refinancing infrastructure borrowing because of another application of this subsection;
93H(2) Interpretive provision.
(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.
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.
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