CONFIDENTIAL #
13
(c) repaying sums due to the Government under
section 12(3);
(d) discharging the indebtedness arising under
section 17 and any interest thereon.
Guarantee by Government.
12.
(1)
The Governor in Council may authorize the
to Financial Secretary, on behalf of the Government, guarantee, on such terms and conditions as the Governor
in Council may approve
G.F. 323
(a)
repayment of loans made to, or the discharge of other indebtedness of, the Corporation and the payment of interest, premium or other charge
thereon;
(b)
the redemption or repayment of, and the payment
of interest, premium or other charge on, any bonds, notes or other securities issued by the
Corporation.
(2) Any sum required for fulfilling a guarantee given under this section by the Government shall be charged on and paid out of the general revenue of Hong Kong and any sum received by the Government by way of repayment of a sum so paid out, or for interest thereon, shall be paid into
such general revenue.
(3) If, pursuant to a guarantee given under this section, the Government makes a payment to a creditor of
CONFIDENTIAL #