sec.20Guarantee not affected by transfer of liability

### sec.20 Guarantee not affected by transfer of liability This section applies if— an obligation of a statutory body under a financial arrangement entered into under this Act or another Act is guaranteed under a guarantee section; and the obligation is transferred from one statutory body to another statutory body (the receiving body ). The transfer does not affect the guarantee continuing in force and the guarantee must be construed as a guarantee of the obligation of the receiving body under the financial arrangement to which the guarantee relates. s 20 amd 1988 No. 55 s 10 ; 1994 No. 31 s 6 sch 2 sub 1996 No. 54 s 8 amd 1997 No. 57 s 33 (sec.20-ssec.1) This section applies if— an obligation of a statutory body under a financial arrangement entered into under this Act or another Act is guaranteed under a guarantee section; and the obligation is transferred from one statutory body to another statutory body (the receiving body ). (sec.20-ssec.2) The transfer does not affect the guarantee continuing in force and the guarantee must be construed as a guarantee of the obligation of the receiving body under the financial arrangement to which the guarantee relates. - (a) an obligation of a statutory body under a financial arrangement entered into under this Act or another Act is guaranteed under a guarantee section; and - (b) the obligation is transferred from one statutory body to another statutory body (the receiving body ).