{"id":"nsw:act-1934-057","name":"Government Guarantees Act 1934","slug":"government-guarantees-act-1934","collection":"act","jurisdiction":"nsw","status":"in_force","isInForce":true,"actNumber":"57 of 1934","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":111722,"registerId":"nsw-act-1934-057-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Name of Act","content":"#### 1 Name of Act\n\n1 Name of Act\n\n> This Act may be cited as the [Government Guarantees Act 1934](/view/html/inforce/current/act-1934-057).","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Validation","content":"#### 2 Validation\n\n2 Validation\n\n> > (1) The action of the Governor and Executive Council or the Treasurer in authorising the giving of the guarantees set out in the Schedule is hereby validated and any such authorisation shall be deemed a guarantee by the Government notwithstanding that no formal instrument of guarantee has been executed.\n> \n> > (2) No guarantee so authorised shall be held to be void merely on the ground that the person by whom such guarantee was so authorised or given had no power to create a liability enforceable against the Government and to be discharged out of the Consolidated Revenue Fund.\n> \n> **s 2:** Am 1972 No 49, sec 2 (b).","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Authority for Treasurer to guarantee overdraft accounts etc","content":"#### 3 Authority for Treasurer to guarantee overdraft accounts etc\n\n3 Authority for Treasurer to guarantee overdraft accounts etc\n\n> > (1) It shall be lawful for the Treasurer, upon the recommendation of the Minister for Health, with the approval of the Governor, to execute a guarantee in favour of any bank, building society or credit union in respect of the overdraft account with the bank, building society or credit union or of any indebtedness to the bank, building society or credit union of any statutory health corporation or affiliated health organisation within the meaning of the [Health Services Act 1997](/view/html/inforce/current/act-1997-154).\n> \n> > (2) It shall be lawful for the Treasurer with the approval of the Governor to execute a guarantee in favour of any bank, building society or credit union, or of any other body of persons, corporate or unincorporate, approved by the Minister (in this Act referred to as approved body) for the repayment of any advance made or to be made by the bank, building society, credit union or approved body, as the case may be:\n> > \n> > > (a) to any marketing board within the meaning of the [Marketing of Primary Products Act 1927](/view/pdf/asmade/act-1927-34), or\n> > \n> > > (a1) (Repealed)\n> > \n> > > (b) to any society (other than a co-operative housing society) within the meaning of the Co-operation Act 1923, or\n> > \n> > > (c) to any society within the meaning of the [Permanent Building Societies Act 1967](/view/pdf/asmade/act-1967-18):\n> > \n> > Provided further that where any such guarantee is for the repayment of any advance to a community settlement society within the meaning of the Co-operation Act 1923, it shall not be executed except upon the recommendation of the Co-operative Farms Purchase Promotion Committee constituted under that Act.\n> \n> > (2A) (Repealed)\n> \n> > (3) It shall be lawful for the Treasurer, upon the recommendation of the Farmers’ Relief Board and with the approval of the Governor, to execute a guarantee in favour of any bank in respect of the account with the bank of a supervisor within the meaning of the [Farmers’ Relief Act 1932](/view/pdf/asmade/act-1932-33).\n> \n> > (4) It shall be lawful for the Treasurer, with the approval of the Governor, but subject to this Act, to renew any guarantee validated by this Act or by the [Housing (Further Provisions) Act 1937](/view/pdf/asmade/act-1937-27) for such further period or periods as the Treasurer may think fit, and either upon the same terms and conditions or upon such other terms and conditions and for the same amount or such other amount as may be agreed upon by the Treasurer, the bank and the debtor.\n> \n> > (5) Nothing in this section shall require the renewal of a continuing guarantee validated by this Act or by the [Housing (Further Provisions) Act 1937](/view/pdf/asmade/act-1937-27) or prejudice its operation as a continuing guarantee.\n> \n> > (5A)\n> > \n> > > (a) It shall be lawful for the Treasurer with the approval of the Governor to execute a guarantee in favour of any bank in respect of the overdraft account with the bank of any person or body of persons corporate or unincorporate with whom the Treasurer has entered into an agreement pursuant to section 13A of the [Cinematograph Films (Australian Quota) Act 1935](/view/pdf/asmade/act-1935-41).\n> > \n> > > (b) The Treasurer shall not execute a guarantee under this subsection after the thirty-first day of December, one thousand nine hundred and thirty-nine.\n> \n> > (5B) It shall be lawful for the Treasurer with the approval of the Governor to execute a guarantee in favour of any bank in respect of the overdraft account with the bank of The Metropolitan Meat Industry Commissioner.\n> \n> > (5C)\n> > \n> > > (a) It shall be lawful for the Treasurer, upon the recommendation of the Minister for Agriculture and with the approval of the Governor, to execute a guarantee in favour of any bank, building society or credit union, or of any other body of persons, corporate or unincorporate, approved by the Treasurer (in this Act referred to as approved body) for repayment of any advance to a society or company, being the owner or engaged in the operation of a factory for the processing of milk or other dairy products, or any such society and company acting together, for the purpose of providing facilities for bulk handling and transportation of milk.\n> > \n> > > (b) In this subsection:\n> > > \n> > > society means a society within the meaning of the Co-operation Act 1923.\n> > > \n> > > company means a company within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth.\n> > \n> > > (c) The provisions of this subsection in relation to a society shall be additional to and not in derogation of the provisions of paragraph (b) of subsection (2).\n> \n> > (5D) It shall be lawful for the Treasurer with the approval of the Governor to execute a guarantee in favour of any bank, building society or credit union, or other body of persons, corporate or unincorporate, approved by the Treasurer (in this Act referred to as approved body) for the repayment of any advance to the Trustees of The Labor Council of New South Wales, a trade union registered under the [Trade Union Act 1881](/view/pdf/asmade/act-1881-24a), as subsequently amended, for purposes connected with a new Trades Hall or other like purposes.\n> \n> > (5E) It shall be lawful for the Treasurer with the approval of the Governor to execute a guarantee in favour of any bank, building society or credit union in respect of the overdraft account with the bank, building society or credit union of the Hunter Valley Conservation Trust.\n> \n> > (5F) It shall be lawful for the Treasurer, with the approval of the Governor, to execute a guarantee in favour of any bank, building society or credit union in respect of the overdraft account with the bank, building society or credit union of the New South Wales Meat Industry Authority.\n> \n> > (5G) It shall be lawful for the Treasurer, upon the recommendation of the Minister for Sport and Recreation, and with the approval of the Governor, to execute a guarantee in favour of a bank, building society or credit union or other body of persons, corporate or unincorporate, approved by the Treasurer (in this Act referred to as the approved body) for the repayment of any money borrowed pursuant to section 24 of the [Sydney Cricket and Sports Ground Act 1978](/view/html/repealed/current/act-1978-072).\n> \n> > (5H) It shall be lawful for the Treasurer, upon the recommendation of the Minister for Health and with the approval of the Governor, to execute a guarantee in favour of any bank, building society or credit union, or other body of persons, corporate or unincorporate, approved by the Treasurer (in this Act referred to as approved body) for the repayment of any advance to the Australasian Conference Association Limited, a company within the meaning of the [Companies Act 1961](/view/pdf/asmade/act-1961-71), for the purpose of providing extensions to the body formerly known as the Sydney Sanitarium and Hospital, Wahroonga, and now known as the Sydney Adventist Hospital, Wahroonga, and for other purposes connected therewith.\n> \n> > (5I) It shall be lawful for the Treasurer, on the recommendation of the Minister for Health and with the approval of the Governor, to execute a guarantee in favour of the Bank of New South Wales for the repayment of any advance to the Trustees of the Sisters of Charity of Australia, a body corporate constituted under the [Roman Catholic Church Communities’ Lands Act 1942](/view/html/inforce/current/act-1942-023), for the purpose of rebuilding St. Vincent’s Private Hospital, Darlinghurst, and for other purposes connected therewith.\n> \n> > (5J) It shall be lawful for the Treasurer, upon the recommendation of the Minister for the Arts and with the approval of the Governor, to execute a guarantee in favour of any bank or other body of persons, corporate or unincorporate, approved by the Treasurer (in this Act referred to as approved body) for the repayment of any advance to the Nimrod Theatre Company Limited.\n> \n> > (5K) (Repealed)\n> \n> > (6) Any guarantee executed by the Treasurer under this Act may be made by way of increase of the amount of the Treasurer’s liability as stated in a previous guarantee given under this Act, and may be made upon such terms and conditions as are prescribed or as the Treasurer may determine.\n> > \n> > The enactment of this subsection shall not affect subsections (1), (2) and (3).\n> \n> > (7) The approval of the Governor to the execution of any guarantee under this section shall be conclusive evidence that the guarantee has not been entered into in contravention of this section.\n> \n> **s 3:** Am 1937 No 27, secs 6 (1) (a) (3), 7 (3) (a); 1938 No 35, sec 7 (2); 1940 No 15, sec 2 (1) (a); 1941 No 20, sec 3 (1) (a); 1943 No 26, sec 2; 1948 No 17, sec 2 (1) (a); 1964 No 61, sec 2 (a) (b); 1967 No 18, sec 123 (1) (a); 1968 No 23, sec 2; 1968 No 52, sec 4; 1970 No 2, sec 53; 1972 No 49, sec 2 (c); 1972 No 63, Sch; 1972 No 80, sec 3; 1973 No 64, sec 2; 1975 No 84, sec 6; 1978 No 33, sec 2; 1978 No 62, sec 3; 1981 No 6, sec 3 (a); 1982 No 138, Sch 1; 1985 No 22, sec 2; 1986 No 16, Sch 23; 1987 No 247, sec 4 (a)–(c); 1990 No 76, Sch 2; 1991 No 15, Sch 4; 1992 No 34, Sch 1; 1996 No 24, Sch 1; 1997 No 11, Sch 1.9 \\[1\\] \\[2\\]; 1997 No 154, Sch 6.14 \\[1\\]; 2001 No 34, Sch 2.24; 2008 No 114, Sch 3.2; 2016 No 27, Sch 5.4.","sortOrder":2},{"sectionNumber":"3AA","sectionType":"section","heading":"Execution of certain guarantees on behalf of Treasurer","content":"#### 3AA Execution of certain guarantees on behalf of Treasurer\n\n3AA Execution of certain guarantees on behalf of Treasurer\n\n> > (1) Any guarantee authorised by this Act to be given for the repayment of any advance made to a co-operative housing society within the meaning of the Co-operation Act 1923 may, upon the recommendation of the Co-operative Housing Societies Advisory Committee constituted under that Act and with the approval of the Governor, be executed for and on behalf of the Treasurer by any other Minister of the Crown whom the Treasurer may authorise in writing either generally or in any particular case so to do.\n> \n> > (2) A guarantee executed by a Minister of the Crown for and on behalf of the Treasurer pursuant to subsection (1) shall be deemed to have been executed by the Treasurer.\n> \n> > (3) The approval of the Governor to the execution of any guarantee pursuant to this section shall be conclusive evidence that the guarantee has not been entered into in contravention of this section.\n> \n> **s 3AA:** Ins 1972 No 49, sec 2 (d). Am 1981 No 6, sec 3 (b).","sortOrder":3},{"sectionNumber":"3A","sectionType":"section","heading":"Guarantees for industrial purposes","content":"#### 3A Guarantees for industrial purposes\n\n3A Guarantees for industrial purposes\n\n> > (1) Subject to subsection (2), it shall be lawful for the Treasurer, upon the recommendation of the Minister for Decentralisation and Development and with the approval of the Governor, to 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:\n> > \n> > > (a) the acquisition of land, or land and buildings thereon,\n> > \n> > > (b) the construction, improvement or alteration of buildings, or\n> > \n> > > (c) the acquisition of plant, machinery or equipment,\n> > \n> > used or to be used for the conduct of a country industry, as defined in the [State Development and Industries Assistance Act 1966](/view/html/repealed/current/act-1966-010) immediately before its repeal by the [Trade and Investment Cluster Governance (Amendment and Repeal) Act 2014](/view/html/inforce/current/act-2014-026).\n> \n> > (2) The Treasurer shall not execute a guarantee referred to in subsection (1) if the amount of the guarantee exceeds ninety per centum of the estimated value of the land or land and buildings thereon, of the estimated cost of the works of construction, improvement or alteration, or of the estimated value of the plant, machinery or equipment, as the case may be, such estimated value or cost to be ascertained in such manner as the Treasurer may direct.\n> \n> > (3) The Treasurer may enter into an agreement with a council within the meaning of the [Local Government Act 1993](/view/html/inforce/current/act-1993-030) for the payment by that council to the Treasurer of part of any moneys paid under any guarantee given by the Treasurer under subsection (1).\n> \n> > (4) The execution by the Treasurer, either alone or jointly with some other person, of a guarantee under this section shall, in favour of the creditor, be conclusive evidence that the requirements of this section with respect to the guarantee have been complied with.\n> \n> **s 3A:** Ins 1966 No 10, sec 37. Am 1972 No 49, sec 2 (e); 1972 No 65, sec 3; 1995 No 11, Sch 1; 1996 No 24, Sch 1; 1999 No 31, Sch 3.8; 2014 No 26, Sch 3.4.","sortOrder":4},{"sectionNumber":"3B","sectionType":"section","heading":"Guarantees for development of the tourist industry","content":"#### 3B Guarantees for development of the tourist industry\n\n3B Guarantees for development of the tourist industry\n\n> > (1) Subject to subsection (2), the Treasurer may, upon the recommendation of the Minister administering the [Tourism Commission Act 1984](/view/html/repealed/current/act-1984-046), 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:\n> > \n> > > (a) the acquisition of land, or land and buildings thereon,\n> > \n> > > (b) the construction, improvement or alteration of buildings, or\n> > \n> > > (c) the acquisition of plant, machinery or equipment,\n> > \n> > used or to be used for the development of the tourist industry in the State.\n> \n> > (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.\n> \n> **s 3B:** Ins 1976 No 58, sec 31. Am 1984 No 48, sec 3; 1996 No 24, Sch 1.","sortOrder":5},{"sectionNumber":"4","sectionType":"section","heading":"Provisions relating to guarantees given under this Act","content":"#### 4 Provisions relating to guarantees given under this Act\n\n4 Provisions relating to guarantees given under this Act\n\n> The following provisions shall apply to and in respect of any guarantee authorised by this Act to be given or to and in respect of the renewal of any guarantee validated by this Act or by the [Housing (Further Provisions) Act 1937](/view/pdf/asmade/act-1937-27):\n> \n> > (a) The guarantee shall be in such form and subject to such terms and conditions as are prescribed or as the Treasurer may determine.\n> \n> > (b) The guarantee may include the interest charges and expenses chargeable by the bank, building society, credit union or approved body as the case may be against the principal debtor in the usual course of its business and the expenses of enforcing or obtaining or endeavouring to enforce or obtain payment of the debt guaranteed and such interest charges and expenses.\n> \n> > (c) The guarantee may be expressed to include compound interest.\n> \n> > (d) The bank, building society, credit union or approved body as the case may be shall obtain, take and hold or retain and hold such securities (if any) for the payment of the principal debt as the Treasurer may require.\n> \n> > (e) The guarantee shall not be enforceable against the Treasurer or the Consolidated Revenue Fund unless and until the bank, building society, credit union or approved body as the case may be has exercised its rights and remedies under all securities held by or for it in respect of the debt guaranteed, other than the guarantee or where the principal debtor is a marketing board or a society (other than a building society community settlement society or community advancement society) within the meaning of the Co-operation Act 1923, unless a judge of the Supreme Court by order made on summons in Chambers declares that he or she is satisfied that the bank, building society, credit union or approved body as the case may be is unable to exercise such rights and remedies without undue interference with the operations of the board or society concerned or where the principal debtor is a building society community settlement society or community advancement society within the meaning of the said Act or a society (other than an association) within the meaning of the [Permanent Building Societies Act 1967](/view/pdf/asmade/act-1967-18), unless the bank, building society, credit union or approved body, as the case may be, shall, under the provisions of the securities executed by the building society community settlement society or community advancement society in favour of the bank, building society, credit union or approved body as the case may be, or of any such securities, have become entitled to appoint a receiver of such of the property of the building society community settlement society or community advancement society or society (other than an association) within the meaning of the [Permanent Building Societies Act 1967](/view/pdf/asmade/act-1967-18) as is charged by those securities or any of them with the repayment of the debt guaranteed.\n> > \n> > This paragraph shall not apply to or in respect of any guarantee or any renewal of a guarantee, as the case may be, given under the authority of this Act, guaranteeing the repayment of any loans or advances made or to be made to any statutory health corporation or affiliated health organisation within the meaning of the [Health Services Act 1997](/view/html/inforce/current/act-1997-154).\n> \n> > (f) The bank, building society, credit union or approved body as the case may be shall not without the consent in writing of the Treasurer assign or encumber the benefit of the guarantee.\n> \n> **s 4:** Am 1937 No 27, secs 6 (1) (b), 7 (3) (b); 1940 No 15, sec 2 (1) (b); 1941 No 20, sec 3 (1) (b); 1948 No 17, sec 2 (1) (b); 1964 No 61, sec 2 (c); 1967 No 18, sec 123 (1) (b); 1972 No 49, sec 2 (f); 1972 No 63, Sch; 1992 No 34, Sch 1; 1996 No 24, Sch 1; 1997 No 11, Sch 1.9 \\[3\\]; 1997 No 154, Sch 6.14 \\[2\\].","sortOrder":6},{"sectionNumber":"4A","sectionType":"section","heading":null,"content":"#### 4A\n\n4A (Repealed)","sortOrder":7},{"sectionNumber":"5","sectionType":"section","heading":"Contingent appropriation","content":"#### 5 Contingent appropriation\n\n5 Contingent appropriation\n\n> Such sums as may from time to time become due and payable by the Treasurer under any guarantee validated or authorised by this Act or validated by the [Housing (Further Provisions) Act 1937](/view/pdf/asmade/act-1937-27) may be paid out of the Consolidated Revenue Fund without further appropriation than this Act.\n> \n> **s 5:** Am 1937 No 27, sec 7 (3) (c); 1972 No 49, sec 2 (g).","sortOrder":9},{"sectionNumber":"6","sectionType":"section","heading":"Regulations","content":"#### 6 Regulations\n\n6 Regulations\n\n> > (1) The Governor may make regulations not inconsistent with this Act prescribing all matters which by this Act are required or permitted to be prescribed or which are necessary or convenient to be prescribed for giving effect to this Act.\n> \n> > (2) (Repealed)\n> \n> **s 6:** Am 1987 No 48, Sch 32.","sortOrder":10},{"sectionNumber":"7","sectionType":"section","heading":null,"content":"#### 7\n\n7 (Repealed)","sortOrder":11},{"sectionNumber":"sch","sectionType":"schedule","heading":null,"content":"# sch\n\nSchedule\n\n(Section 2 (1))\n\n| Date | Debtor | Creditor | Amount Guaranteed |\n|  |  |  | £ s d |\n| 10 May, 1926 | Royal Prince Alfred Hospital. | Commercial Banking Co. of Sydney Ltd., Sydney. | 35,000 0 0 |\n| 31 Aug, 1926 | \"\"\" | \"\"\" | 10,000 0 0 |\n| 4 Jan, 1927 | \"\"\" | \"\"\" | 7,000 0 0 |\n| 15 Nov, 1927 | \"\"\" | \"\"\" | 10,000 0 0 |\n| 18 Sept, 1928 | \"\"\" | \"\"\" | 23,000 0 0 |\n| 5 Mar, 1929 | \"\"\" | \"\"\" | 10,000 0 0 |\n| 19 June, 1929 | \"\"\" | \"\"\" | 10,000 0 0 |\n|  |  | £ | 105,000 0 0 |\n| 11 Dec, 1928 | Sydney Hospital | Bank of NSW, Sydney | 69,000 0 0 |\n| 8 May, 1929 | Royal North Shore Hospital | Bank of NSW, North Sydney Branch. | 54,000 0 0 |\n| 8 Oct, 1929 | \"\"\" | \"\"\" | 32,392 0 0 |\n| 28 \" 1930 | St. George District Hospital | Bank of Australasia, Kogarah Branch. | 5,000 0 0 |\n| 6 Dec, 1932 | Royal Alexandra Hospital for Children—General Fund Account. | Bank of NSW, Camperdown Branch. | 15,000 0 0 |\n| 6 \" 1932 | Royal Alexandra Hospital for Children—Building Fund Account. | \"\"\" | 10,000 0 0 |\n| 3 July, 1933 | Auburn District Hospital | Bank of NSW, Auburn Branch. | 500 0 0 |\n| 9 Jan, 1934 | Broken Hill and District Hospital. | E.S.& A. Bank Limited, Broken Hill Branch. | 5,500 0 0 |\n| 31 \" 1934 | Cessnock District Hospital | Bank of NSW, Cessnock Branch. | 6,000 0 0 |\n| 31 \" 1934 | Kurri Kurri District Hospital | Bank of NSW, Kurri Kurri Branch. | 7,000 0 0 |\n| 31 \" 1934 | Maitland Hospital | Bank of NSW, West Maitland Branch. | 8,000 0 0 |\n| 31 \" 1934 | Orange District Hospital | Bank of NSW, Orange Branch. | 1,000 0 0and interest. |\n| 6 Dec, 1921 | Murrumbidgee Irrigation Areas Co-operative Company, Limited. | Bank of NSW, Leeton Branch. | 35,000 0 0 |\n| 12 Oct, 1932and5 Sept, 1933 | Yenda Producers’ Co-operative Society, Limited. | Bank of NSW, Yenda Branch. | 3,000 0 0and interest. |\n| 16 May, 1933 | Rice Marketing Board for the State of New South Wales. | Bank of NSW, Leeton Branch. | 205,000 0 0and interest. |\n| 5 April, 1934 | \"\"\" | \"\"\" | 205,000 0 0and interest. |\n| 9 Jan, 1934 | Young District Producers’ Co-operative Association Limited. | Commonwealth Bank of Australia, Young Branch. | 31,166 0 0and interest. |\n| 1 May, 1934 | New South Wales Dairy Products Board. | Commercial Banking Co. of Sydney, Ltd., Royal Exchange Branch. | 300 0 0and interest. |\n| 8 May, 1934 | Irrigation Co-operative Societies, Limited. | Bank of NSW, Yenda Branch. | 10,000 0 0and interest. |\n| 15 May, 1934 | Egg Marketing Board for the Counties of Cumberland and Northumberland and Shires of Nattai and Wollondilly. | Commonwealth Bank of Australia, Sydney. | 55,000 0 0and interest. |\n| 16 Oct, 1928 | White Memorial Swimming Baths Committee. | Commercial Banking Co. of Sydney, Ltd, Muswellbrook Branch. | 3,500 0 0 |\n| 26 Mar, 1926 | The Sydney Harbour Trust Clerical and General Officers’ Association, Ticket Organisation. | Bank of NSW, Sydney. | 1,250 0 0 |\n| 1 June, 1933 | NSW Public Service Professional Officers’ Association Season Ticket Organisation. | Bank of NSW, Royal Exchange Branch. | 1,500 0 0and interest. |\n| 20 Mar, 1934 | Public Service Association of NSW Season Ticket Organisation. | Commercial Banking Co. of Sydney, Ltd, Sydney. | 2,500 0 0 |\n| 4 Sept, 1929 | J C Lennon | Bank of NSW, Inverell Branch. | 5,040 0 0 |\n| 29 Oct, 1929 | J D Smith | Bank of NSW, Trundle Branch. | 300 0 0 |\n| 17 \" 1933 | C W Beer, Supervisor, Farmers’ Relief Board. | Bank of NSW, Murwillumbah Branch. | 100 0 0 |\n| 17 \" 1933 | R E Cumming, Supervisor, Farmers’ Relief Board. | Bank of NSW, Moree Branch. | 100 0 0 |\n| 17 \" 1933 | W E Frost, Supervisor, Farmers’ Relief Board. | Bank of NSW, Canowindra Branch. | 200 0 0 |\n| 17 \" 1933 | W J Johnson, Supervisor, Farmers’ Relief Board. | Bank of NSW, Grafton Branch. | 100 0 0 |\n| 17 \" 1933 | J S Longhurst, Supervisor, Farmers’ Relief Board. | Bank of NSW, Bega Branch. | 100 0 0 |\n| 17 \" 1933 | H A Marks, Supervisor, Farmers’ Relief Board. | Bank of NSW, Bellingen Branch. | 100 0 0 |\n| 17 \" 1933 | E T Matthews, Supervisor, Farmers’ Relief Board. | Bank of NSW, Deniliquin Branch. | 200 0 0 |\n| 17 \" 1933 | H G Norton, Supervisor, Farmers’ Relief Board. | Bank of NSW, Corowa Branch. | 150 0 0 |\n| 17 \" 1933 | D R Parker, Supervisor, Farmers’ Relief Board. | Bank of NSW, Kempsey Branch. | 100 0 0 |\n| 17 \" 1933 | F A Paterson, Supervisor, Farmers’ Relief Board. | Bank of NSW, Lismore Branch. | 100 0 0 |\n| 17 \" 1933 | J D Purcell, Supervisor, Farmers’ Relief Board. | Bank of NSW, Junee Branch. | 150 0 0 |\n| 17 \" 1933 | J R Souter, Supervisor, Farmers’ Relief Board. | Bank of NSW Glen Innes Branch. | 100 0 0 |\n| 17 \" 1933 | H H Stevenson, Supervisor, Farmers’ Relief Board. | Bank of NSW, Tamworth Branch. | 200 0 0 |\n| 17 \" 1933 | W D Sykes, Supervisor, Farmers’ Relief Board. | Bank of NSW, Wentworth Branch. | 100 0 0 |\n| 17 \" 1933 | T A Tester, Supervisor, Farmers’ Relief Board. | Bank of NSW, Young Branch. | 100 0 0 |\n| 17 \" 1933 | M C Tweedie, Supervisor, Farmers’ Relief Board. | Bank of NSW, Gunnedah Branch. | 200 0 0 |\n| 17 \" 1933 | A F Witcombe, Supervisor, Farmers’ Relief Board. | Bank of NSW, Grenfell Branch. | 150 0 0 |\n| 17 Oct, 1933 | D L Young, Supervisor, Farmers’ Relief Board. | Bank of NSW, Albury Branch. | 250 0 0 |\n| 17 \" 1933 | L C Abbott, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Berrigan Branch. | 200 0 0 |\n| 17 \" 1933 | C D Cook, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney Ltd., Barraba Branch. | 250 0 0 |\n| 17 \" 1933 | H L Dawson, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Cootamundra Branch. | 100 0 0 |\n| 17 \" 1933 | O F Ebert, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney Ltd., Warren Branch. | 150 0 0 |\n| 17 \" 1933 | A D Hickey, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Gosford Branch. | 150 0 0 |\n| 17 \" 1933 | J P Le Lievre, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Cobar Branch. | 100 0 0 |\n| 17 \" 1933 | B W Loder, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney Ltd., Sydney. | 200 0 0 |\n| 17 \" 1933 | G E Metcalfe, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Cooma Branch. | 100 0 0 |\n| 17 \" 1933 | G E Mitchell, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Goulburn Branch. | 100 0 0 |\n| 17 \" 1933 | H G Moffitt, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Grenfell Branch. | 100 0 0 |\n| 17 \" 1933 | R S Moore, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Young Branch. | 200 0 0 |\n| 17 \" 1933 | D P McGee, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., West Wyalong Branch. | 500 0 0 |\n| 17 \" 1933 | E R Patston, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Armidale Branch. | 100 0 0 |\n| 17 \" 1933 | R S Phillips, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Yass Branch. | 100 0 0 |\n| 17 \" 1933 | E J Pollock, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Casino Branch. | 200 0 0 |\n| 17 \" 1933 | S H Short, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., West Maitland Branch. | 100 0 0 |\n| 17 \" 1933 | H H Stitt, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Moree Branch. | 1,000 0 0 |\n| 17 \" 1933 | G P Turner, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Wagga Wagga Branch. | 500 0 0 |\n| 17 \" 1933 | J S Wild, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Henty Branch. | 500 0 0 |\n| 17 \" 1933 | W Wilson, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Inverell Branch. | 100 0 0 |\n| 14 Mar, 1934 | J F Auswild, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Lake Cargelligo Branch. | 1,000 0 0 |\n| 14 \" 1934 | \"\"\" | Commercial Banking Co. of Sydney, Ltd., Temora Branch. | 1,000 0 0 |\n| 5 April, 1934 | J Boyd, Supervisor, Farmers’ Relief Board. | Bank of NSW, Peak Hill Branch. | 200 0 0 |\n| 5 April, 1934 | E H Graham, Supervisor, Farmers’ Relief Board. | Bank of NSW, Hillston Branch. | 2,000 0 0 |\n| 5 \" 1934 | G F Grill, Supervisor, Farmers’ Relief Board. | Bank of NSW, Manilla Branch. | 100 0 0 |\n| 5 \" 1934 | E Steel, Supervisor, Farmers’ Relief Board. | Bank of NSW, Cowra Branch. | 200 0 0 |\n| 5 \" 1934 | C C Brownhill, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Parkes Branch. | 400 0 0 |\n| 5 \" 1934 | J G Muir, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Wellington Branch. | 700 0 0 |\n| 5 \" 1934 | E H Sadgrove, Supervisor, Farmers’ Relief Board. | Commercial Banking Co., of Sydney, Ltd., Narromine Branch. | 200 0 0 |\n| 17 \" 1934 | W T Easdown, Supervisor, Farmers’ Relief Board. | Bank of NSW, Coonabarabran Branch. | 500 0 0 |\n| 17 \" 1934 | N J Hanlin, Supervisor, Farmers’ Relief Board. | Bank of NSW, Condobolin Branch. | 500 0 0 |\n| 17 \" 1934 | W J Kinross, Supervisor, Farmers’ Relief Board. | Bank of NSW, Inverell Branch. | 1,000 0 0 |\n| 1 May, 1934 | W J Green, Supervisor, Farmers’ Relief Board. | Bank of NSW, Forbes Branch. | 400 0 0 |\n| 15 \" 1934 | W H Bentley, Supervisor, Farmers’ Relief Board. | Bank of NSW, Orange Branch. | 600 0 0 |\n| 15 \" 1934 | J Campbell, Supervisor, Farmers’ Relief Board. | Bank of NSW, Wagga Wagga Branch. | 750 0 0 |\n| 15 \" 1934 | H B Duff, Supervisor, Farmers’ Relief Board. | Bank of NSW, Mudgee Branch. | 200 0 0 |\n| 15 \" 1934 | F L Keyworth, Supervisor, Farmers’ Relief Board. | Bank of NSW, Dubbo Branch. | 750 0 0 |\n| 15 \" 1934 | J M McInnes, Supervisor, Farmers’ Relief Board. | Bank of NSW, Temora Branch. | 1,000 0 0 |\n| 15 \" 1934 | A Savage, Supervisor, Farmers’ Relief Board. | Bank of NSW, Griffith Branch. | 1,000 0 0 |\n| 12 June, 1934 | J A Lorimer, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Narrandera Branch. | 400 0 0 |\n| 3 July, 1934 | C T Pile, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Gosford Branch. | 150 0 0 |\n| 17 \" 1934 | F S McCarthy, Supervisor, Farmers’ Relief Board. | Commercial Banking Co. of Sydney, Ltd., Yass Branch. | 250 0 0 |","sortOrder":13}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"Insufficient information is available to determine whether the scope changed from the original 1934 intent. The Act appears to have remained within its core domain of government financial guarantees, given it is still administered by the Treasurer. However, the multiple amendments over 83 years could reflect scope adjustments that cannot be assessed without reviewing the actual legislative text."},"complexity_factors":["Insufficient substantive legislative text was provided — only metadata and navigation elements are available, preventing full complexity assessment","Government guarantee laws can involve complex financial and contractual concepts (indemnities, contingent liabilities, subrogation rights)","The Act's age (1934) means it may use archaic legal drafting styles that are harder to interpret","Multiple amendments over decades (2001, 2008, 2012, 2014, 2017) could introduce inconsistencies or layered obligations","Score is conservative due to lack of actual legislative content to analyse"],"plain_english_summary":"## Government Guarantees Act 1934 (NSW)\n\n**What is this law?**\nThis is a New South Wales law that has been on the books since 1934. Based on the available information, it relates to the NSW Government's power to provide **guarantees** — meaning the government formally promises to back a financial obligation if the original party fails to pay or perform.\n\n**Who is responsible for it?**\nThe NSW **Treasurer** is the responsible minister, meaning this law sits within the financial/economic management of the state.\n\n**Why does it matter?**\nGovernment guarantee laws allow the state to stand behind certain financial arrangements — for example, backing loans or obligations of government-owned entities or other bodies. If those entities can't pay, the government (and ultimately taxpayers) picks up the bill. This kind of law underpins financial confidence in government-backed organisations.\n\n**What's notable about it?**\n- This law dates back to **1934** — it is over 90 years old, originating during the Great Depression era when governments needed financial credibility tools.\n- It has been updated several times, most recently in **2017**, suggesting it remains relevant today.\n- The responsible minister is the Treasurer, confirming its financial/fiscal nature.\n\n**⚠️ Important limitation:** The actual substantive provisions (the real content of the law) were not included in the text provided — only metadata, navigation elements, and status information were available. A full analysis of how this law specifically affects individuals or businesses would require reviewing the actual sections of the Act."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"The Act has materially expanded beyond a narrow original purpose of validating specific historic guarantees. Early provisions (validation in s 2) were extended by later amendments to create a broad, ongoing statutory power for the Treasurer to issue guarantees across multiple sectors. Successive insertions authorise guarantees for industrial development (s 3A), tourist industry projects (s 3B), health bodies (s 3(1)), and a series of named organisations and purposes (various s 3 subsections). Delegation (s 3AA), sector‑specific conditions and the power to prescribe terms (s 4) increase the operational scope. Overall the Act evolved from a validating statute into a general instrument for targeted government guarantees with ongoing contingent fiscal exposure."},"complexity_factors":["Multiple targeted subsections authorising guarantees for specific sectors and named beneficiaries (s 3, subsections 5A–5J; ss 3A and 3B)","Validation clause plus Schedule listing many historical guarantees (s 2 and Schedule)","Cross‑references to numerous other Acts for definitions and scope (eg. Health Services Act 1997, Co‑operation Act 1923, Corporations Act 2001, State Development and Industries Assistance Act 1966, Tourism Commission Act 1984)","Conditional mechanics and exceptions (eg. creditors must exhaust securities before recourse to Treasurer, with a judicial exception) (s 4(e))","Delegated execution power allowing another Minister to act for the Treasurer in specific housing matters (s 3AA)","Conclusive evidence clauses that limit review of procedural compliance (s 3(7), s 3AA(3))","Contingent appropriation (automatic payment from Consolidated Revenue Fund) combined with discretionary terms‑setting by the Treasurer (s 5 and s 4(a))","Numerous historical amendments and repealed/substituted subsections increasing interpretive history and conditional logic (see amendment history in s 3 and elsewhere)"],"plain_english_summary":"This Act validates a list of past government guarantees and creates a statutory power for the Treasurer (usually on ministerial recommendation and with Governor approval) to guarantee overdrafts/advances for specified borrowers and approved lenders. Payments called under guarantees can be met from the Consolidated Revenue Fund.\n\nIt matters because it shifts contingent fiscal risk onto taxpayers, changes lender/borrower incentives, and concentrates discretion in the Treasurer; safeguards include required securities and a rule that creditors generally exhaust remedies before state payment."},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":true,"description":"Originally enacted in 1934 to validate specific historical guarantees to hospitals and farmers' relief supervisors during the Depression, the Act has grown into a broad statutory framework for government financial backing. It now covers modern health corporations, tourist industry development, industrial decentralisation, sports grounds, film production (historically), and cultural institutions. The Schedule preserves the original 1930s guarantees as historical artifacts, while the operative sections have been repeatedly amended to add new categories of eligible borrowers, transforming a narrow validation measure into a general-purpose financial guarantee mechanism."},"complexity_factors":["Multiple overlapping subsections in Section 3 (3, 3AA, 3A, 3B) with different approval pathways—some require Ministerial recommendations, others don't","Numerous repealed provisions (3(2A), 4A, 6(2), 7, 5K) and historical amendments creating a patchwork of current vs. former law","Extensive cross-referencing to repealed or amended legislation (Co-operation Act 1923, Marketing of Primary Products Act 1927, State Development and Industries Assistance Act 1966, etc.)","Conditional enforcement rules in Section 4(e) with nested exceptions—different rules apply depending on whether the debtor is a marketing board, building society, community settlement society, or health corporation","Specific named entities in the Schedule (hospitals, supervisors, co-ops) mixed with general categories in the operative sections","Temporal limitations (e.g., section 3(5A)(b) prohibiting guarantees after 31 December 1939) that may or may not still be relevant","Dual pathways for execution—some guarantees by Treasurer personally, others by delegated Ministers (Section 3AA)"],"plain_english_summary":"This law lets the NSW Government act as a guarantor for loans taken out by specific organisations and individuals. In plain terms, it means the government promises to pay back money if the borrower defaults.\n\n**Who it covers:**\n- **Public hospitals** (like Royal Prince Alfred, Sydney Hospital, etc.)\n- **Marketing boards** (for rice, eggs, dairy products)\n- **Co-operative societies** (farmers' groups, irrigation co-ops)\n- **Statutory health corporations** (modern public health entities)\n- **Various other bodies** including the Sydney Cricket Ground, film producers under an old quota system, the Hunter Valley Conservation Trust, and even specific theatre companies like the Nimrod Theatre\n\n**What it does:**\n- **Validates past guarantees** made in the 1920s-1930s that might have been legally questionable (Section 2)\n- **Authorises new guarantees** for overdrafts and loans to approved organisations, usually requiring the Treasurer to get approval from the Governor (Section 3)\n- **Sets conditions** on how guarantees work—banks must try to recover money from the borrower first before calling on the government (Section 4)\n- **Provides the money** by allowing payments from the Consolidated Revenue Fund (the government's main bank account) without needing fresh parliamentary approval each time (Section 5)\n\n**Why it matters:**\nThis is essentially a financial safety net that lets public hospitals, agricultural boards, and other approved entities get cheaper credit because lenders know the government backs them. It's been expanded many times since 1934 to cover new types of borrowers, from dairy factories to theatre companies."}},"importantCases":[],"_links":{"self":"/api/acts/government-guarantees-act-1934","history":"/api/acts/government-guarantees-act-1934/history","analysis":"/api/acts/government-guarantees-act-1934/analysis","conflicts":"/api/acts/government-guarantees-act-1934/conflicts","importantCases":"/api/acts/government-guarantees-act-1934/important-cases","documents":"/api/acts/government-guarantees-act-1934/documents"}}