New South Wales Consolidated Acts

SNOWY HYDRO CORPORATISATION ACT 1997 - SECT 10

10 Government guarantees

(1) The liabilities of a Snowy hydro-group company are not guaranteed by the State of New South Wales.

(2) However, the State of New South Wales may agree to guarantee obligations of a Snowy hydro-group company with respect to any debt owed by a Snowy hydro-group company to the Commonwealth on the corporatisation date until the debt is repaid.

(3) Any liability arising from any such agreed guarantee is to be met out of the Consolidated Fund, which is appropriated accordingly.

(4) Any such agreed guarantee may provide for charges to be paid by a Snowy hydro-group company for the benefit of the guarantee.