3AAExecution of certain guarantees on behalf of Treasurer

3AA Execution of certain guarantees on behalf of Treasurer

3AA Execution of certain guarantees on behalf of Treasurer

(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.

(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.

(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.

s 3AA: Ins 1972 No 49, sec 2 (d). Am 1981 No 6, sec 3 (b).