Commonwealth Numbered Acts

AUSSAT REPEAL ACT 1991 No. 145 of 1991 - SECT 4

4. (1) The Treasurer may, on the Commonwealth's behalf, enter into a contract
guaranteeing the performance by AUSSAT of one or more of the following:

   (a)  an obligation to repay an AUSSAT borrowing;

   (b)  an obligation to pay interest (including interest on interest) on an
        AUSSAT borrowing;

   (c)  an obligation to pay amounts (other than interest) that are specified
        in the contract and that AUSSAT is liable to pay with respect to an
        AUSSAT borrowing.

(2) If the Treasurer determines in writing that the Commonwealth guarantees
the performance by AUSSAT of specified obligations each of which is of a kind
referred to in subsection (1), the Commonwealth guarantees that performance by
force of this subsection.

(3) In this section:

"AUSSAT borrowing" means:

   (a)  an amount borrowed or raised, or to be borrowed or raised, by AUSSAT;
        or

   (b)  an amount of credit obtained, or to be obtained, by AUSSAT.

(4) This section ceases to have effect, or is taken to have ceased to have
effect, as the case requires, at the transition.