PLANNING AND DEVELOPMENT ACT 2005 - SECT 207

PLANNING AND DEVELOPMENT ACT 2005 - SECT 207

207 .         Guarantees by Treasurer

        (1)         The Treasurer is authorised to guarantee —

            (a)         the repayment of any amount borrowed from time to time under section 205; and

            (b)         the payment of interest and such other charges in respect of such borrowings as the Treasurer has approved.

        (2)         A guarantee is to be in the form, and subject to the terms and conditions, determined by the Treasurer.

        (3)         The due payment of money payable by the Treasurer under a guarantee is to be charged to the Consolidated Account, which this subsection appropriates accordingly.

        (4)         The Treasurer is to cause any amounts received or recovered, from the Commission or otherwise, in respect of any payment made by the Treasurer under a guarantee to be credited to the Consolidated Account.

        [Section 207 amended: No. 77 of 2006 s. 4.]