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Public Finance Management Act, 1999 (Act No. 1 of 1999)

Chapter 8 : Loans, Guarantees and other Commitments

Part 2 : Loans by national government

75. Obligations from lien over securities

 

Neither the Minister, nor the National Treasury is responsible for the fulfillment of any obligation resulting from any lien, whether expressed, implied or construed, held over any security issued in terms of this Act, despite the fact that the Minister or the National Treasury was notified of the lien.