9.2 Guarantees

The provision of a guarantee by a Government Board in favour of any party is subject to the prior approval of the relevant portfolio Minister, as well as the Treasurer if the Government Board is in direct receipt of government funding. There may also be certain statutory requirements under the Government Board's enacting legislation and the Statutory Bodies Financial Arrangements Act 1982.

Where a Government Board is not constituted by statute but functions in an advisory role only, it will not have the legal capacity to provide a guarantee to another party.