Official text · word for word
111. Grants and loans
(1) The Governor-General may make rules providing that
(a) the existing or contingent liability of the Administration for servicing its public debt shall not exceed such limits as may be prescribed;
(b) the Minister responsible for finance shall be informed in advance of any proposal that the Administration should obtain any grant or loan of money; and
(c) there shall be such consultation between the Government and the Administration as may be prescribed concerning any such proposal before the proposal is put into effect.
(2) The powers of the Governor-General under subsection (1) shall be exercised by him or her on the advice of the Prime Minister but no such advice shall be given without the concurrence of the Premier.