The Minister may from time to time, if it appears to him to be necessary or expedient in the public interest to do so, give a guarantee, indemnity, or security, upon or subject to such terms and conditions as he thinks fit, in respect of the performance of any obligation by any person, organisation, or government.

Any money required to be paid by the Minister by virtue of any guarantee, indemnity, or security given by him under this section may be paid out of any account within the Public Account or out of any account subject to Part IX of this Act, as the Minister may direct, without further appropriation than this section. Where any such money is paid out of the National Development Loans Account, the authority of the Minister to borrow money under section 11 of the New Zealand Loans Act 1953 shall be deemed to be extended as if the money so paid had been duly authorised to be transferred from that Account to another fund or account as mentioned in that section.

The Treasury shall include in the public accounts for each year a statement showing all guarantees, indemnities, and securities given by the Minister under this section during the year.

The Treasury shall show separately in each quarterly summary prepared under section 67 of this Act and in the public accounts for each year every payment made by the Minister under this section during the quarter or the year, as the case may be.”