Western Australian Numbered Acts Western Australian Numbered Acts (1) The Board cannot
borrow money unless —
(a) the
borrowing is —
(i)
for the purpose of overcoming a cash flow problem in the
payment of benefits; or
(ii)
for a purpose approved by the Treasurer;
(b) the
terms of the borrowing have been approved by the Treasurer; and
(c) the
borrowing complies with the Treasurer’s guidelines.
(2) When borrowing
money the Board may give any security it considers appropriate.
(3) In this
section —
“borrow money” means borrow or raise
money, obtain credit or arrange for other financial accommodation, and
includes to re-borrow or obtain advances.