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AUSTRALIAN CAPITAL TERRITORY (SELF-GOVERNMENT) ACT 1988 No. 106 of 1988 - SECT 64 Guarantees by Territory

AUSTRALIAN CAPITAL TERRITORY (SELF-GOVERNMENT) ACT 1988 No. 106 of 1988 - SECT 64

Guarantees by Territory
64. (1) The Territory shall not make a guarantee to which this section applies
except with the approval of the Treasurer and in accordance with such
conditions (if any) as are determined by the Treasurer in writing.

(2) This section applies to a guarantee of the discharge of an obligation if,
at the time when the guarantee is made, the amount guaranteed, together with
the total of the amounts (if any) previously guaranteed, is more than 10% of
the total amount of public money of the Territory received by the Territory
during the previous financial year.

(3) In the case of a guarantee of the discharge of an obligation other than
the payment of money, the amount of the guarantee, for the purposes of
subsection (2), is the amount of the consideration for that obligation.