(1) Where it is made to appear to the Minister that there is reasonable cause to believe—
(a) that a statutory authority is likely to fail or be unable to discharge any of its obligations under any agreement concluded by it with the Bank or under any bond, promissory note or other instrument issued under any such agreement; and
(b) that the Government is or may become liable under any guarantee or other undertaking given in exercise of the powers conferred by section 8(1) in respect of such obligation,
the Minister may by order give or authorise any other person to give such directions to the statutory authority as he or she or such other person may think necessary or desirable to ensure that satisfactory arrangements are made by the authority to enable it duly to discharge its obligations under such agreement, bond, promissory note or instrument or under this Act.
(2) The statutory authority shall despite any provision contained in any other statute comply with any directions given by or under any such order.
(3) This section shall not affect or derogate from any other power conferred by law on the Minister or any public officer in respect of the statutory authority.
(4) Where any sum becomes payable by the Government under a guarantee or undertaking given in exercise of the powers conferred by section 8, that sum shall be charged on the Consolidated Fund and assets of Saint Lucia and the Minister shall direct payment to issue out of the Consolidated Fund accordingly.