SCHOOL EDUCATION ACT 1999 - SECT 189

SCHOOL EDUCATION ACT 1999 - SECT 189

189 .         Treasurer’s guarantee for moneys borrowed under s. 187

        (1)         The Treasurer may, in the name and on behalf of the Crown in right of the State, guarantee payments to be made by the Minister in respect of moneys borrowed by the Minister under section 187(1)(b).

        (2)         A guarantee is to be in such form and contain such terms and conditions as the Treasurer determines.

        (3)         Before a guarantee is given —

            (a)         the Minister is to give to the Treasurer such security as the Treasurer requires; and

            (b)         all instruments that are necessary for the purpose are to be executed.

        (4)         The Treasurer may fix charges to be paid by the Minister to the credit of the Consolidated Account in respect of a guarantee given under this section.

        [Section 189 amended: No. 77 of 2006 s. 4.]