Section 23
Limiting exposure to fiscal risk
of Public Finance and Fiscal Responsibility Act 2023
ActIn forceProvision 23 of 38
Section 23
(1)
The Minister shall prepare and publish guidelines or policy framework to limit exposure to fiscal risk on the fiscal position of the Government arising from financial guarantee, public-private partnership and Government entities.
(2)
No financial guarantee shall be given unless—
(a)
the guarantee is consistent with the principles of responsible fiscal management under this Act;
(b)
the terms and conditions of the guarantee are consistent with the guidelines or policy framework; and
(c)
the amount of the guarantee shall not exceed the quantified value specified in the First Schedule.