(1)  While the Crown has beneficial ownership of all the shares in the Company, the Treasurer, on the written request of the Company or its subsidiary, may give a guarantee or an indemnity relating to –

(a) the repayment of any money lent or agreed to be lent to the Company or subsidiary; or

(b) the performance of an obligation undertaken by the Company or subsidiary, or which the Company or subsidiary has agreed to undertake, whether that obligation is monetary or otherwise.

(2)  A guarantee or an indemnity –

(a) is to be in writing; and

(b) may include a guarantee of, or an indemnity relating to, any interest and other charges payable in respect of money lent or agreed to be lent or in respect of or arising from an obligation undertaken or agreed to be undertaken; and

(c) is subject to any conditions that the Treasurer determines and specifies in the guarantee or indemnity.

(3)  The Treasurer is to make any payment required under or arising from a guarantee or indemnity out of money provided by Parliament for the purpose.

(4)  This section has effect regardless of where the loan or obligation was undertaken or agreed to be undertaken or where it is required to be repaid or performed.