Western Australian Current Acts

ARTS AND CULTURE TRUST ACT 2021 - SECT 63

63 .         Guarantees by Treasurer

        (1)         The Treasurer, on the Minister’s recommendation, may, in the name and on behalf of the State, guarantee the payment of any money payable by the Trust in respect of money borrowed by it under section 62.

        (2)         A guarantee must be in a form, and contain terms and conditions, determined by the Treasurer.

        (3)         Before a guarantee is given, the Trust must —

            (a)         give the Treasurer any security the Treasurer requires; and

            (b)         execute all instruments that are necessary for the purpose.

        (4)         The Treasurer may fix charges to be paid by the Trust to the credit of the Consolidated Account in respect of a guarantee given under this section.