(1) The Minister may lend money for approved purposes to a private training provider which does not operate for the purpose of private gain by its members, provided the purposes relate to the provision of vocational education and training.

(2) Any such loan is to be made out of moneys borrowed by the Minister under section 17A.

(3) The terms and conditions of any such loan, including the interest to be paid ¾

(a) may be less onerous than those that might reasonably apply to such a loan made commercially; and

(b) are to be approved by the Treasurer.

(4) In subsection (1) ¾

}approved purposes~ means the acquisition of land, the construction, modification and renovation of buildings and the purchase or lease of plant and equipment, or any of those things.

[Section 17 inserted by No. 27 of 1998 s.7.]