Power of Government to guarantee loans by Bank to statutory authorities

(1) The Government may in such manner and on such terms and subject to such conditions as may be agreed between it and (a) guarantee the discharge by a statutory authority of its obligations under any agreement which may be entered into by the statutory authority with the Bank in respect of any borrowing authorised by section 6 (1) of this Act under any bond, promissory note or other instrument issued pursuant to any such agreement; and (b) undertake such other obligations as may be agreed between the Government and the Bank in relation to or pursuant to any such bond, promissory note or (2) Any guarantee or undertaking given under this section shall be given in writing in the name of the Minister for and on behalf of the Government of Belize and it and any endorsement of any bond, promissory note or other instrument of any guarantee given under this section may be signed on behalf of the Government by the Minister or by any person authorised thereto in writing by the Minister. (3) As soon as possible after a guarantee or undertaking is given under this section, the Minister shall cause to be laid before the National Assembly a statement of the guarantee or undertaking.