borrowing corporation "borrowing corporation" means a corporation that is or will be under a liability (whether or not such liability is present or future) to repay any money received or to be received by it in response to an invitation to the public to subscribe for or purchase debentures of the corporation in accordance with the provisions of Division 4 of Part IV; [Am. Act A1081] ACT 125 - COMPANIES ACT 1965 4. Interpretation.