No. 412015 Puet-tc Dng'r Mahl,qcEh{ENT (b) in thecaseof public entitiesrefenedto inparagraphs (a) and (c) Cap.22:21 rf the definition 'lublic entity" in section 2 of the Public Finance Management Act, is alyr authorised by the enactrnent which establishes or govem.s it, so long, however, as the applicable provisions relating to this Act are complied with. of (2) The Govemment may only through the following persons borrow money, or issue a guarantee, indemnity or security, or enter into any other transaction that binds or may bind the Consolidated Revenue Fund to any future commitment- (a) (b) the Minister;or in the case of the issue of a guarantee, indemnity or security, the appropriate Minister acting with the concurrence of the Minister in terms of section 20. (3) A public entity referred to in subsection ( I ) may only throug:h the following persons borrow money, or issue a guarantee, indemnity or security or enter into any other transaction that binds or may bind that public urtity to any futue financial c0rnmitment- (a) (b) a public entity referred to in paragraph (a) rtf the delinition of "public entit-v" in section 2 of the Public Finance Management Act, the accounting authority for that public entity; in the case of public entity referred to in paragraph (b) of the delinition 2 of the Public Finance Management Act, the accounting authority for that public entity, subject to any conditions the Minister may impose; in the case of a of "public entity" in section (c) in the case of any other public entity, the appropriate Ministeq with the concurrence of the Minister in terms of section 18. (4) The Minister may, in writing, permit a public entity referred to in subsection (3Xc) or a constitutional entity to borrow money for operational expenses up to a prescribed limit, including a temporary bank overdraft, subject to such conditions as the Minister may impose. (5) A person mentioned in subsection (2) or (3) shall not delegate a power conferred in terms of that subsection, except with the prior written approval of the Minister. (6) A public entity authorised to borrow money in terms of subsection (a) (3)- shall annually submit to the Minister through the Office a borrowing programme for the year; and (b) 24 may not borrow money in a foreign currency above a prescribed limit, except when that public entity is a company in which the State is the sole shareholder. Consequences of unauthorised transactions and how to exclude them lf a person, otherwise than in accordance with section 23, lends money to a Ministry, public entity, constitutional entity or statutory fund to which the Public Finance Management Act and this Act applies, or purports to issue on behalf of such a Ministry public entity, constitutional entity or statutory fund a guarantee, indemnity or security, or enters into any other transaction which purports to hind such Ministry, public entity, constitutional entity or statutory f'und to any future financial commitrnent, the State and that Ministry, public entity, constitutional entity or statutory fund shall not be bound by the lending contract or the guarantee, indemnity, security or other transaction: Provided that any person wishing (a) to- lend money to a Ministry, puhlic entity, constitutional enfity or statutory fund; or {h) enter into any guarantee, indemnity, security or other transaction purporting to bind such Ministry, pllblic entity, constitutional entit'y or sf.atutory f'und to any future financial ccmmitment: L12