16Guarantee or indemnity

16 Guarantee or indemnity

(1)  On the written request of the Corporation or its subsidiary, the Treasurer, in writing, may guarantee, give an indemnity in relation to, or guarantee and give an indemnity in relation to –

(a) [Section 16 Subsection (1) amended by No. 22 of 2023, s. 44, Applied:01 Jul 2023] .  .  .  .  .  .  .  .  

(b) the performance of an obligation undertaken by the Corporation or subsidiary or which the Corporation or subsidiary has agreed to undertake (whether that obligation is monetary or otherwise).

(2)  A guarantee or an indemnity –

(a) [Section 16 Subsection (2) amended by No. 22 of 2023, s. 44, Applied:01 Jul 2023] .  .  .  .  .  .  .  .  

(b) is subject to any conditions determined by the Treasurer and specified in the guarantee or indemnity.

(3)  The Treasurer is to make any payment required under or arising from a guarantee or indemnity out of money provided by Parliament for the purpose.

(4)  [Section 16 Subsection (4) amended by No. 22 of 2023, s. 44, Applied:01 Jul 2023] [Section 16 Subsection (4) amended by No. 22 of 2023, s. 44, Applied:01 Jul 2023] This section has effect regardless of whether the obligation was undertaken, agreed to be undertaken or required to be performed in Tasmania or elsewhere.