South African Maritime Safety Authority Act, 1998 (Act No. 5 of 1998)Chapter 4 : FinancePart 1 : General41. Guarantee of borrowings |
| (1) | The Minister of Finance may guarantee the compliance by the Authority with obligations incurred by it under section 40. |
| (2) | A contract under subsection (1) may include a provision— |
| (a) | agreeing that legal proceedings under the contract may be instituted in the courts of a foreign country; or |
| (b) | waiving the immunity of the State from suit in the courts of a foreign country. |
| (3) | Where the Minister of Finance guarantees such a borrowing, that Minister must cause to be tabled in Parliament within 15 sitting days after the contract is entered into, notice specifying the amount and term of the borrowing and such other information relating to the borrowing or the guarantee as that Minister considers appropriate. |