73Guarantee subject to security, &c.

73 Guarantee subject to security, &c.

(1)  Before a guarantee is given under section 71 or 72 , the borrower must, if the Treasurer so requires, give to the Treasurer the security that the Treasurer specifies and must execute the instruments that are necessary for the purpose of giving the guarantee and the security.

(2)  A guarantee under section 71 or 72 operates so as to guarantee –

(a) the repayment of money lent, or agreed to be lent, to the borrower; and

(b) the payment of interest and other charges in respect of that money –

only to the extent that the aggregate of those amounts does not exceed $3 000 000.