Guarantees
76 Guarantees
The Treasurer, on the Minister’s recommendation, may, in the name and on behalf of the State, guarantee the performance by the Authority, in the State or elsewhere, of any financial obligation of the Authority.
A guarantee is to be in the form, and subject to the terms and conditions, determined by the Treasurer.
The due payment of money payable by the Treasurer under a guarantee is to be charged to the Consolidated Account, which this subsection appropriates accordingly.
The Treasurer is to cause any amounts received or recovered, from the Authority or otherwise, in respect of any payment made by the Treasurer under a guarantee to be credited to the Consolidated Account.
[Section 76 amended: No. 77 of 2006 s. 4.]
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