Document ID: chunk:federal_register_of_legislation:C2004A01409:section:3
Version: federal_register_of_legislation:C2004A01409
Segment Type: section
Provision Reference: s 3
Character Range: 940–1674

3  Guarantee
 (1) Notwithstanding the repeal of section 75a of the Papua New Guinea Act 1949‑1975 by the Papua New Guinea Independence Act 1975, the guarantee deemed to have been given by Australia under that section in respect of the repayment of moneys borrowed in Australian currency before the date of commencement of this Act and the payment of interest in respect of those moneys shall, by force of this section, continue in force.
 (2) For the purposes of the guarantee so continued in force, the liabilities of the Government of Papua New Guinea immediately before the date of commencement of this Act shall be deemed, on and after that date, to be liabilities of the Government of the Independent State of Papua New Guinea.