Queensland Consolidated Acts

STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - SECT 20

20 Guarantee not affected by transfer of liability

(1) This section applies if—

(a) an obligation of a statutory body under a financial arrangement entered into under this Act or another Act is guaranteed under a guarantee section; and

(b) the obligation is transferred from one statutory body to another statutory body (the
"receiving body" ).

(2) The transfer does not affect the guarantee continuing in force and the guarantee must be construed as a guarantee of the obligation of the receiving body under the financial arrangement to which the guarantee relates.