Commonwealth Numbered Acts

CO-OPERATIVE FARMERS AND GRAZIERS DIRECT MEAT SUPPLY LIMITED (LOAN GUARANTEE) ACT 1978 No. 16 of 1978 - SECT 4

4. (1) The Treasurer may, on behalf of the Commonwealth, at the request of the
Society and subject to the conditions required by this Act, give one guarantee
in respect of the repayment by the Society of one-half of the principal moneys
in relation to a borrowing of moneys by the Society for the purpose of
repaying debts owed by the Society.

(2) A guarantee shall not be given under sub-section (1) that would render the
Commonwealth liable to pay an amount that exceeds, or amounts that in the
aggregate exceed $4,500,000 or one-half of so much of the principal moneys
referred to in that sub-section as have not for the time being been repaid by
the Society, whichever is the less.