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Regional Investment Corporation (Drought Loans Expansion) Rule 2020
In force
Administered by
Department of Agriculture, Fisheries and Forestry
This item is authorised by the following title:
Regional Investment Corporation Act 2018
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F2020L00329
27 March 2020
-
30 September 2020
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Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Definitions
5 What is an eligible farm business?
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Part 2—Drought Loans Expansion Program
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Division 1—Prescribing Drought Loans Expansion Program
6 Drought Loans Expansion Program prescribed
7 Constitutional basis for program
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Division 2—Dealing with applications for expanded drought loans
8 Loan application must meet certain criteria
9 Informing applicants of outcome of applications
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Division 3—Making expanded drought loans
10 Expanded drought loan not to be made where farm business loan available
11 Purpose criteria—connection with drought
12 Capacity to repay loan and provide security
13 Financial criteria
14 Business activities and ownership criteria
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Division 4—Determining terms and conditions of expanded drought loans
15 Maximum amount of expanded drought loans
16 Extra terms and conditions of expanded drought loans
17 Setting interest rates
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Division 5—Collecting and dealing with payments and enforcing security
18 Corporation to pay amounts collected to Commonwealth
19 Decisions on foreclosure should be made by Board
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Division 6—Dealing with debt relating to expanded drought loans
20 Mediation
21 Waiver
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Division 7—Reporting to responsible Ministers
22 Quarterly reporting
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Division 8—Funding of expanded drought loans
23 Funding of expanded drought loans
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Division 9—Other matters relating to program
24 Charging of transaction costs
25 Directions by responsible Ministers
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Part 3—Other functions relating to program
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Division 1—Corporation functions
26 Preparing and publishing guidelines relating to program
27 Providing information and advice to responsible Ministers
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Division 2—Board functions
28 Ensuring internal review of decisions about loans
29 Setting interest rates
30 Developing and applying loan management policies and procedures
