Provision by State of indemnities and guarantees
31 Provision by State of indemnities and guarantees
The Treasurer may, in the name and on behalf of the State, give an indemnity or guarantee in respect of a matter related to —
a section 9 disposal; or
the assignment (whether under a transfer order or otherwise) of anything in connection with a section 9 disposal.
The Treasurer may, in the name and on behalf of the State, give to any person who is or has been a member, director or officer of the Authority or a corporate vehicle an indemnity against any liability determined by the Treasurer (including any civil liability under the Corporations Act 2001 (Commonwealth)), whether or not the liability relates to a matter referred to in subsection (1).
Any money payable under an indemnity or guarantee given under this section must be paid by the Treasurer.
Payments made under subsection (3) are charged to the Consolidated Account, which this subsection appropriates accordingly.
This Act’s bill:Explanatory memorandumSecond reading speech
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