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Brief
The Australian Business Securitisation Fund Act 2019 is an Act to establish the Australian Business Securitisation Fund and for related purposes. The Act aims to increase the availability and reduce the cost of credit provided to small and medium enterprises by the Commonwealth.
The Act establishes the Australian Business Securitisation Fund, which consists of the Australian Business Securitisation Fund Special Account and the investments of the Fund. The investments must be debt securities that meet certain requirements.
The Minister is responsible for making investment decisions for the Fund, but can delegate this power to an eligible delegate under the Minister's powers or functions. The Act also contains provisions for reducing the balance of the Account without making a real or notional payment.
The Act includes miscellaneous provisions, such as annual reporting and reviewing the operation of the Act. The Minister must cause a review of the operation of this Act to be undertaken after certain periods, and must give a written report of the review to the Minister.
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