Guarantees and indemnities
34 Guarantees and indemnities
If in the opinion of a Minister, including the Treasurer, the
Territory would benefit, that Minister may with the agreement of the
Treasurer make arrangements for the Territory:
to give a guarantee, on the terms the Treasurer thinks fit, that a person's specified financial obligations will be fulfilled; or
to indemnify a person, on the terms the Treasurer thinks fit, for actual or potential liability in relation to the person's financial obligations.
Notwithstanding any other law of the Territory, an instrument effecting a guarantee or an indemnity referred to in subsection (1) shall be signed by the Treasurer, unless the Treasurer has agreed that it may be signed by the Minister or some other person on behalf of the Territory.
This Act’s bill:Second reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.