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Constitution of Urabba Parks/Section 95
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[[Constitution of Urabba Parks/Contents|Table]]|[[Constitution of Urabba Parks/Notes|Notes]]|[[Constitution of Urabba Parks/Section 94|Previous]]|[[Constitution of Urabba Parks/Section 96|Next]]|[[Constitution of Urabba Parks/Download|Download]]<br>{{Navbar|L=Constitution of Urabba Parks|Ch=4|Pt=2|Div=1|Sdiv=A|S=95}} = Borrowing from entities = <span id="s1"></span>(1) Subject to this section and any further laws made by the Parliament, the Manager‑General in Council may authorise an officer of the Executive Government of Urabba Parks to apply to: :<span id="par1a"></span>(a) the Executive Government of a jurisdictional division; :<span id="par1b"></span>(b) a campus government entity; or :<span id="par1c"></span>(c) an association; to borrow money from the jurisdictional division, campus government entity or association on the terms and conditions as authorised by the Manager‑General in Council. <span id="s2"></span>(2) No drawing from the funds of an entity falling in subsection (1) shall take place until agreed to by the entity or authorised under subsection (3). <span id="s3"></span>(3) The Court of Directors, or another judicial body of Urabba Parks as the Parliament prescribes may, upon an application made under subsection (1), authorise borrowing from the jurisdictional division, campus government entity or association if it is satisfied the requirement for cash: :<span id="par3a"></span>(a) is critical to the protection of the solvency or financial standing of Urabba Parks as a whole; and :<span id="par3b"></span>(b) outweighs any requirement or expectation established under this Constitution (whether expressly or by implication) that money for the Executive Government of a jurisdictional division, campus government entity or association is to be expended in a manner consistent with the purposes of the entity. <span id="s4"></span>(4) In this section, '''''borrow money''''' includes to grant the Executive Government of Urabba Parks any security over rights of the Executive Government of a jurisdictional division, a campus government entity or association for the benefit of the Executive Government of Urabba Parks. = <span id="EM"></span>Relevant note from the Explanatory Memorandum = 242. Subsection (1) provides that the Executive Government to borrow money from an entity formed within Urabba Parks; under subsection (2) such borrowing requires the consent of the entity or authorisation of the Court of Directors or another tribunal. Subsection (3) provides the Court or other tribunal may authorise borrowing when critical for the protection of the solvency or financial standing of Urabba Parks as a whole. Subsection (4) includes the definition of borrowing to include a granting of security over any assets. The purpose of this section is to allow Government to have access to funds where it appears there is a situation adversely affecting the solvency or financial standing of Urabba Parks as a whole. [[Category:Urabbaparcensian constitutional law| ]]
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