Public Finance (Departmental Guarantees and Indemnities) Regulations 2007

5 Departments must give notice of guarantee or indemnity in certain cases

• (1) A department must, for the purposes of section 65ZE(3) of the Act, give written notice to its responsible Minister and the Secretary if the contingent liability of the Crown under a guarantee or indemnity given by the department exceeds $10,000,000.

  (2) The notice must—

  • (a) be accompanied by a copy of the guarantee or indemnity; and

  • (b) be given as soon as practicable after the guarantee of indemnity is given.