20UGovernment guarantee

#### 20U Government guarantee 20U Government guarantee > > (1) The obligations of a statutory SOC or any of its subsidiaries are not guaranteed by the State of New South Wales, except to the extent that the board of the SOC and the voting shareholders agree in writing. > > > (2) Any liability arising from an agreed guarantee is to be met out of the Consolidated Fund, which is appropriated accordingly. > > > (3) The voting shareholders may, after consultation with the board of the SOC, fix charges to be paid by the SOC or any of its subsidiaries to the Treasurer in respect of an agreed guarantee, either generally or in so far as it relates to specified matters. > > > (4) Payments by the SOC or any of its subsidiaries to the Treasurer in respect of any such charges are required to be made at such times, and in such instalments, as the Treasurer determines. > > **s 20U:** Ins 1995 No 32, Sch 1 \[13\].