New South Wales Consolidated Acts

GOVERNMENT SECTOR FINANCE ACT 2018 - SECT 6.26

6.26 Mandatory statutory guarantee of certain borrowings repayments

(1) The State guarantees the repayment of borrowings (including interest and other charges relating to them) of a GSF agency when due if they were obtained under the authority of a financial arrangement approval.

(2) The guarantee extends to borrowings obtained from the New South Wales Treasury Corporation.

(3) Unless obtained from the New South Wales Treasury Corporation, the guarantee does not extend to borrowings obtained for a State owned corporation except to the extent that the board of the corporation and its voting shareholders agree in writing in accordance with section 16 or 20U of the State Owned Corporations Act 1989 .

(4) The guarantee does not apply in relation to--

(a) any borrowings of GSF agencies that are GSF agencies because of the operation of section 2.4 (2) (which relates to controlled entities) except to the extent that the regulations provide for the guarantee to apply, or

(b) any borrowings or GSF agencies (or borrowings or GSF agencies of a kind) prescribed by the regulations.