47Guarantees by Territory

47 Guarantees by Territory (1) The Territory may only give a guarantee for the payment of money or the performance of an obligation in accordance with this Act. (2) The Treasurer may approve in writing a guarantee by the Territory for the payment of money or the performance by any person of an obligation under a contract, subject to any conditions the Treasurer may specify in the approval. (3) If the Treasurer approves a guarantee under subsection (2), the Treasurer must present a copy of the approval to the Legislative Assembly within 3 sitting days after the approval is given.