Commonwealth Numbered Regulations

FINANCIAL MANAGEMENT AND ACCOUNTABILITY REGULATIONS 1997 No. 328 - REG 14

14. (1) In this regulation:

"loan guarantee" means a guarantee of the due payment of the whole, or a part,
of either or both of the principal of, and the interest payable on, a loan.

(2) A person (including a Minister or a Chief Executive) must not give a
loan guarantee on behalf of the Commonwealth unless:

   (a)  a proposal to spend public money for the guarantee has been approved
        under regulation 9 or 10; and

   (b)  the giving of the guarantee has been authorised by the Finance
        Minister, or another person authorised by the Finance Minister for the
        purpose.