Document ID: chunk:federal_register_of_legislation:C2023C00105:section:69
Version: federal_register_of_legislation:C2023C00105
Segment Type: section
Provision Reference: s 69
Character Range: 54251–55195

69  Guarantees
 (1) The Corporation may only guarantee repayment of a loan (including interest on the loan) made to a person if the loan is one that could have been made by the Corporation in performing its investment function.
 (2) The giving of a guarantee under subsection (1) must be consistent with the investment strategy embodied in a policy formulated by the Board under subsection 68(1).
 (3) A guarantee is void if, at the time the Corporation purports to give the guarantee, it would secure an amount that is more than the uncommitted balance of the Account at that time, less any liabilities of the Corporation at that time not already covered by paragraph (b) of the definition of uncommitted balance. To avoid doubt, the guarantee is wholly void regardless of whether a part of the amount it would secure could be covered by the uncommitted balance of the Account.
 (4) A subsidiary of the Corporation must not give a guarantee.