(1) The Government may in such manner and on such terms and subject to such conditions as may be agreed between it and the Bank—
(a) guarantee the discharge by a statutory authority of its obligations under any agreement which may be entered into by the statutory authority with the Bank in respect of any borrowing authorised by section 6(1) or under any bond, promissory note or other instrument issued under any such agreement; and
(b) undertake such other obligations as may be agreed between the Government and the Bank in relation to or under any such agreement, bond, promissory note or instrument.
(2) Any guarantee or undertaking given under this section shall be given in writing in the name of Saint Lucia and it and any endorsement on any bond, promissory note or other instrument of any guarantee given under this section may be signed on behalf of Saint Lucia by the Minister or by any person authorised thereto in writing by the Minister.
(3) As soon as possible after a guarantee or undertaking is given under this section, the Minister shall lay before the House of Assembly a statement of the guarantee or undertaking.