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GOVERNMENT GUARANTEES ACT 1934 - SECT 3B
Guarantees for development of the tourist industry
3B Guarantees for development of the tourist industry
(1) Subject to subsection (2), the Treasurer may, upon the recommendation of
the Minister administering the Tourism Commission Act 1984 , and with the
approval of the Governor, execute a guarantee, either alone or jointly with
some other person, in favour of any bank, building society or credit union or
other person (not being a co-operative society within the meaning of the
Co-operation Act 1923 ) for the repayment of moneys expended or to be expended
on: (a) the acquisition of land, or land and buildings thereon,
(b) the
construction, improvement or alteration of buildings, or
(c) the acquisition
of plant, machinery or equipment,
used or to be used for the development of
the tourist industry in the State.
(2) Subsections (2), (3) and (4) of
section 3A apply in respect of guarantees under this section in the same way
as they apply in respect of guarantees under that section.
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