DEVELOPMENT ALLOWANCE AUTHORITY ACT 1992 (REPEALED)

CHAPTER 3 - INFRASTRUCTURE BORROWINGS  

PART 3 - CERTIFICATES  

Division 1 - Issue, variation and transfer etc.  

SECTION 93V  

93V   CRITERIA FOR TRANSFER OF CERTIFICATE  
Subject to section 93W , the DAA must, in writing, transfer the certificate to the transferee on the specified date if the DAA is satisfied that:

(a) by the specified date, all rights, interests and obligations of the certificate holder in relation to:

(i) if subparagraph (ii) does not apply:

(A) the spending, lending or other use of the borrowed money; and

(B) the acquisition, construction, ownership, use and control of any facility covered by the conditions applying to the certificate; or

(ii) if the transfer of the certificate to the transferee will enable effect to be given to a requirement, in a condition applying to the certificate as a result of subsection 93K(3) or (4) , for the holder to transfer to another person all of the holder's rights, interests and obligations in relation to facilities - those facilities;

will be transferred to the transferee; and

(b) the rights, interests and obligations will not be transferred to the transferee in partnership with anyone else; and

(c) the requirements of section 93I would be satisfied in relation to the transferee if the transferee had been the person who proposed to borrow the money and the borrower requirement period in section 93I were the certificate holder requirement period; and

(d) if the transfer is approved, the transferee intends to comply with the conditions that will apply to the certificate.