50
CurrentTreasurer's guarantee
Part 8Miscellaneous
50 Treasurer's guarantee
(1)
Liabilities incurred or assumed by the Authority in pursuance of this Act are guaranteed by the Treasurer.
(2)
A liability of the Treasurer under a guarantee arising by virtue of subsection (1) will be satisfied out of the Consolidated Account which is appropriated by this section to the necessary extent.
(3)
The Treasurer may, from time to time, after consultation with the board, fix charges to be paid by the Authority in respect of the guarantee provided under this section and determine the times and manner of their payment.
This Act’s bill:Second reading speech
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