Government guarantees

Current

(1)

The liabilities of a Snowy hydro-group company are not guaranteed by the State of Victoria.

(2)

However, the State of Victoria may agree to guarantee obligations of a Snowy hydro-group company with respect to any debt owed by a Snowy hydro-group company to the Commonwealth on the corporatisation date until the debt is repaid.

(3)

Any liability arising from any such agreed guarantee is to be met out of the Consolidated Fund, which is appropriated accordingly.

(4)

Any such agreed guarantee may provide for charges to be paid by a Snowy hydro-group company for the benefit of the guarantee.

This Act’s bill:Second reading speech

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10 Government guarantees