Section 276 — Injury Prevention, Rehabilitation, and Compensation Act 2001: Power to borrow, etc

276 Power to borrow, etc (1) The Corporation may borrow money, give security, and issue guarantees and indemnities in accordance with procedures approved by the Minister of Finance. (2) Without limiting any other purposes for which money borrowed may be applied, the Corporation may pay any money borrowed under subsection (1) into any of the Accounts. (3) If any money borrowed is held in an Account, the Corporation may apply the money so held for any purpose for which money held in that Account may be applied. (4) If any money borrowed is paid into an Account, the Corporation may repay from that Account the money so borrowed and paid in and may pay from that Account not only the interest incurred in respect of the money so borrowed and paid in but also the other costs (including the administrative costs of the Corporation) in borrowing that money. (5) Subsections (2) to (4) supplement the provisions of Part 6 . (6) Nothing in this section prevents the Corporation from apportioning any costs in accordance with section 274 . Compare: 1998 No 114 s 345