New South Wales Consolidated Acts New South Wales Consolidated Acts(cf State Owned Corporations Act 1989 , section 20U)
(1) The obligations of the Corporation or any of its subsidiaries are not guaranteed by the constituent councils, except to the extent to which the Board and the constituent councils agree in writing.
(2) The constituent councils may, after consultation with the Board, fix charges to be paid by the Corporation or any of its subsidiaries to the constituent councils in respect of an agreed guarantee, either generally or in so far as it relates to specified matters.
(3) Payments by the Corporation or any of its subsidiaries to the constituent councils in respect of any such charges are required to be made at such times, and in such instalments, as the constituent councils determine.