Australian Capital Territory Current Acts

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FINANCIAL MANAGEMENT ACT 1996 - SECT 47

Guarantees by Territory

    (1)     The Territory may only give a guarantee for the payment of money or the performance of an obligation in accordance with this Act.

    (2)     The Treasurer may approve in writing a guarantee by the Territory for the payment of money or the performance by any person of an obligation under a contract, subject to any conditions the Treasurer may specify in the approval.

    (3)     If the Treasurer approves a guarantee under subsection (2), the Treasurer must present a copy of the approval to the Legislative Assembly within 3 sitting days after the approval is given.



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