Commonwealth Numbered Acts

EXPORT FINANCE AND INSURANCE CORPORATION ACT 1974 No. 122 of 1974 - SECT 16

16. (1) Where-

   (a)  the Corporation has entered into, or proposes to enter into, a
        contract of insurance under section 13 or 14 with, or for the benefit
        of, any person;

   (b)  the value of the consideration payable to that person in respect of
        the acts or transactions to which the contract of insurance relates is
        not less than such amount as is prescribed for the purposes of this
        paragraph; and

   (c)  another person has lent, or proposes to lend, moneys to the
        first-mentioned person for the purpose of financing, in whole or in
        part, the acts or transactions to which the contract of insurance
        relates, the Corporation may, subject to any regulations made by
        virtue of sub-section (2), guarantee to that other person the
        repayment of the whole or any part of the moneys lent or to be lent by
        him and the payment of the whole or any part of any interest or other
        charges that may become payable to him in respect of those moneys.

(2) The regulations may make provision for limiting the extent to which a
guarantee may be given by the Corporation under sub-section (1).