Credit Guarantee (Amendment) Act 2020

Amendment of section 4 of Act of 2012

4. Section 4 of the Act of 2012 is amended by—

(a) the substitution, in subsection (1), of “this section, section 4A” for “this section”,

(b) the substitution, in subsection (2), of “subsection (3), section 4A” for “subsection (3) ”,

(c) the substitution, in subsection (3), of “Subject to subsection (4A), the Minister” for “The Minister”,

(d) the substitution, in subsection (4), of “Subject to subsection (4A), the Minister” for “The Minister”, and

(e) the insertion of the following subsection after subsection (4):

“(4A) Subsections (3) and (4) shall not apply to—

(a) guarantees given under this section in accordance with a Covid-19 credit guarantee scheme, or

(b) qualifying finance agreements to which those guarantees apply.”.