New Zealand Railways Corporation Act 1981

37A Power to enter into swaps or other financial arrangements
  • For the purposes of clarification and the avoidance of doubt, it is hereby declared that the Corporation may, from time to time, if it appears to the Corporation to be necessary or expedient to do so, enter (either directly or through an intermediary) into any arrangement with any person, organisation, or government (in this section referred to as the other party), either within or outside New Zealand, whereby the Corporation undertakes to make payments to, or to the account of, the other party in any currency and the other party undertakes to make payments to, or to the account of, the Corporation in the same or any other currency.

    Section 37A: inserted, on 31 July 1989, by section 2 of the New Zealand Railways Corporation Amendment Act 1989 (1989 No 55).