16.
Guarantees
(1) (a)
(b)
The Legislative Council may from time to time by
resolution authorize the Financial Secretary to
guarantee in accordance with this section, on behalf
of the Government and up to an amount not exceeding in
the aggregate that specified in the resolution, money
(including money in a currency other than the currency
of Hong Kong) borrowed or otherwise payable by the
Authority.
A guarantee under this section may guarantee
(i)
the due repayment by the Authority of the
principal of any money borrowed by it;
(ii)
the due payment of instalments or other
amounts payable by the Authority under a
contract made by it;
(iii)
the payment of interest on any such
principal, instalment or amount; or
(iv)
both the due repayment of principal or due
payment of such instalments or amounts, as
the case may be, and payment of the interest
payable thereon,
and such guarantee shall be in such form and be given
in such manner and, subject to subsection (2)(a), be
on such terms and conditions as the Financial
Secretary shall think fit and may include a guarantee
of payment of commission and incidental expenses
arising in connection with borrowings by the Authority
or a contract referred to in subparagraph (ii).