(1) Without affecting section 26A, the Corporation may, for any purpose
referred to in section 26C (1), enter into arrangements to borrow money from,
or obtain advances from, or obtain other financial accommodation from, an
approved person or body, whether in New South Wales or elsewhere, to such
extent and secured and arranged in such manner and for such period as may be
approved.
(2) The due payment of any amounts payable by the Corporation
pursuant to any arrangements entered into under this section, and any interest
or other charges in relation thereto, is hereby guaranteed by the government,
and any liability arising from the guarantee shall be payable out of money
provided by Parliament.
(3) Where the approval of the Governor in relation to
any arrangements is expressed to be given under this section, the provisions
of section 26C and the Fourth Schedule do not apply to or in respect of the
arrangements, but this subsection does not prevent the borrowing of money
under section 26C (1) for the discharge or partial discharge of any
indebtedness to any person or body referred to in subsection (1).
(4) In this
section:
"approved" means approved from time to time by the Governor on the
recommendation of the Minister and with the concurrence of the Treasurer.
"financial accommodation" includes financial accommodation by way of credit
arrangements, including arrangements for the deferred payment by the
Corporation of amounts payable by it under any contract or agreement entered
into by it, but not including any arrangements that provide for the payment of
instalments where the extension of credit to the Corporation is not involved.
