New South Wales Consolidated Acts

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) ACT 1987 - SECT 22A

22A Statutory guarantee

(1) The due repayment of:

(a) financial accommodation obtained (whether within or outside Australia) by an authority pursuant to Part 2 by the issue of debentures, bonds, inscribed stock, registered stock, discounted securities or promissory notes, or

(b) financial accommodation obtained (whether within or outside Australia) by an authority pursuant to Part 2 as consideration for the authority’s assumption of liability for any obligation, or

(c) such other forms of financial accommodation obtained by an authority as may be prescribed by the regulations, whether or not involving the issue of securities of any kind,

and, where payable, the due payment of interest and other charges relating to that financial accommodation, are all guaranteed by the Government.

(2) This section applies to a State owned corporation only to the extent that the board of the corporation and voting shareholders agree in writing in accordance with section 16 or 20U of the State Owned Corporations Act 1989 .