Financing Secured by Other Revenues Regulations

Version of section 22 from 2011-09-30 to 2016-03-31:


Marginal note:General adaptations

 The Debt Reserve Fund Replenishment RegulationsFootnote 1 are adapted as follows:

  • (a) in relation to a default on financing secured by other revenues,

    • (i) a reference to the debt reserve fund is to be read as a reference to the debt reserve fund established for financing secured by other revenues;

    • (ii) a reference to a borrowing member is to be read as a reference to a borrowing member that has received financing secured by other revenues; and

    • (iii) a reference to a defaulting member is to be read as a reference to a defaulting member in receipt of financing secured by other revenues.

  • (b) in relation to a default on financing secured by property tax revenues,

    • (i) a reference to the debt reserve fund is to be read as a reference to the debt reserve fund established for financing secured by property tax revenues;

    • (ii) a reference to a borrowing member is to be read as a reference to a borrowing member that has received financing secured by property tax revenues; and

    • (iii) a reference to a defaulting member is to be read as a reference to a defaulting member in receipt of financing secured by property tax revenues.

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