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Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020
3Simplified outline of this Act
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3 Simplified outline of this Act
• The Minister may, on behalf of the Commonwealth, grant a guarantee to a financial institution in connection with loans made, or to be made, by the financial institution to SME entities if granting the guarantee is likely to assist in dealing with the economic impacts of the Coronavirus known as COVID‑19.
• The Consolidated Revenue Fund is appropriated for the purposes of meeting any liabilities that the Commonwealth incurs under those guarantees.