Australia PGPA Finance Minister Delegations to Accountable Authorities and the Finance Secretary NCE-S1-P6-grant: When an indemnity, guarantee or warranty may be granted: where the event is remote (under 5 per cent) and the probable cost is under $30 million, or with the Finance Minister's written approval, or as explicitly agreed by Cabinet, the National Security Committee or the Prime Minister, or under a Finance Minister determination

What does NCE-S1-P6-grant require?

A delegate may take on a contingent liability through an indemnity, guarantee or warranty only on one of these bases: the delegate is satisfied the triggering event has less than a five per cent chance of occurring and the most probable payout if it occurred would be below $30 million; the Finance Minister has approved that grant in writing; it was expressly agreed in a decision of the full Cabinet, of Cabinet's National Security Committee, or of the Prime Minister; or it falls within a written determination of the Finance Minister. The same bases apply to the Finance Secretary (directions 3.3 to 3.5).