(1) The Treasurer may, in the name and on behalf of the Crown in right of the State, guarantee the payment of any money payable by the Minister in respect of money borrowed by the Minister other than from the Treasurer under section 16.

(2) A guarantee is to be in such form and contain such terms and conditions as the Treasurer determines.

(3) Before a guarantee is given ¾

(a) the Treasurer is to be given such security as the Treasurer requires; and

(b) all instruments that are necessary for the purpose are to be executed.