Railway Rolling Stock Agreement Guarantee Act, 1964
Act 41 of 1964
- Commenced on 26 June 1964
- [This is the version of this document at 1 December 1998.]
1. Short titleThis Act may be cited as the Railway Rolling Stock Agreement Guarantee Act, 1964.
2. InterpretationIn this Act—“Anglo-American Corporation Limited” means the company known by that name, the registered office of which is situated at Number 44, Main Street, Johannesburg, in the Republic of South Africa;“agreement” means the agreement to be entered into between the—(a)Railway,(b)Anglo-American Corporation Limited,(c)Rand Selection Corporation Limited,(d)Commonwealth Development Corporation, and(e)Government,relating to the purchase by the Railway of certain rolling stock;“Commissioner” means Her Majesty’s Commissioner for Swaziland;“Commonwealth Development Corporation” means the corporation known by that name in accordance with subsection (2) of section 1 of the Commonwealth Development Act, 1963 (Eliz. II 1963 Chapter 40) of the United Kingdom;“guarantee” means the guarantee authorized by section three;“Railway” means the Swaziland Railway established under the Swaziland Railway Act No. 15 of 1962;“Rand Selection Corporation Limited” means the company known by that name, the registered offices of which is situated at Number 44, Main Street, Johannesburg, in the Republic of South Africa.
3. Guarantee of certain indebtedness of RailwayThe Commissioner may, in the name and on behalf of the Government, guarantee as surety and co-principal debtor the indebtedness of the Railway, whether for capital or interest, to lenders arising out of loans of money to the Railway in terms of the Agreement, in amounts not exceeding—
4. Execution of guaranteeThe Commissioner may—
5. Indemnity by RailwayThe Railway shall, in accordance with undertakings to be given by the Railway in favour of the Government, on terms, satisfactory to the Commissioner indemnify the Government in respect of any claims which may be made against the Government arising from any guarantee furnished.
6. Charge of general revenue and assets of SwazilandIn the event of the Government being called upon to pay any amounts owing by the Railway as a consequence of the furnishing of the guarantee, the amounts are hereby charged upon, and shall be repaid out of the general revenue and assets of Swaziland.
History of this document
01 December 1998 this version
26 June 1964