In respect to all domestic securities issued by QTC, section 32 of the Queensland Treasury Corporation Act 1988 provides a statutory guarantee of QTC’s obligations to stockholders:
|Section 32||The due repayment of principal on inscribed stock issued in accordance with this Act and, where payable, the due payment of interest relating to the inscribed stock are guaranteed by the Treasurer, on behalf of the Government.|
Section 33 of the Queensland Treasury Corporation Act empowers the Treasurer to guarantee due payment of moneys and due performance of obligations in accordance with financial arrangements or other arrangements entered into by QTC. Such discretionary guarantees have been granted by the Treasurer and continue to operate in support of QTC’s offshore debt facilities. All payments by the State Government under these guarantees are appropriated under section 34 of the Queensland Treasury Corporation Act, meaning they can be paid from the State’s Consolidated Fund without any further legislative approval.
- On 18 September 2009, the Reserve Bank of Australia (RBA) approved QTC’s application for the Australian Government Guarantee to be applied to selected AUD domestic benchmark bonds.
- On 11 December 2009, the RBA approved QTC’s application for the Australian Government Guarantee to be applied to selected AUD global benchmark bonds.
THIS WEBPAGE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES. This webpage does not constitute an offer of any securities for sale into the United States. QTC bonds will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.