South Australian Consolidated Acts

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INDUSTRIES DEVELOPMENT ACT 1941 - SECT 16

16—Conditions as to raising of capital

The Treasurer may, in consideration of the giving of a guarantee under section 14 in respect of a loan, require the principal debtor to agree that—

            (a)         the Treasurer, if at any time satisfied that the business in connection with which the guarantee is given is satisfactorily established, may request the principal debtor to take such reasonable steps as the Treasurer directs for raising capital to repay the loan; and

            (b)         the principal debtor will take such steps accordingly.



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