Pursuant to section 59 (2) of the Public Finance Act 1989, the Minister of Finance makes the following statement:
On the 24th day of November 1999, Sir Willim Francis Birch, Minister of Finance, gave a guarantee, pursuant to section 59 (1) of the Public Finance Act 1989, in respect of the payment obligations of the Housing Corporation of New Zealand that arise out of the Agreement relating to the Sale and Purchase Agreement, the Interest Rate Adjustment Agreement, the Insurance Agreements and the Subsidy Arrangement between the Housing Corporation of New Zealand, Westpac Banking Corporation, the Home Mortgage Company Limited, and Her Majesty the Queen in Right of New Zealand, that were signed on or about 29 November 1999.
Dated at Wellington this 11th day of March 2000.
DR MICHAEL CULLEN, Minister of Finance.