Version as at 1 July 2024 Crown Entities Act 2004 Part 4 s 164 Section 161 heading: amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). Section 161(1): amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). Section 161(2): amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). Section 161(2A): inserted, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). 162 Restrictions on borrowing A Crown entity must not borrow from any person, or amend the terms of any borrowing, other than as provided in section 160. 163 Restrictions on giving of guarantees and indemnities (1) A Crown entity must not, with or without security, give a guarantee to, or indemnify, another person, or amend the terms of any such guarantee or indem‐ nity, other than as provided in section 160. (2) This section does not apply if the other person is— (a) (b) (3) a member, office holder, committee member, employee, or other indi‐ vidual indemnified by the board in relation to any claim or proceeding under— (i) section 122 of this Act; or (ii) section 162 of the Companies Act 1993; or (iii) the entity’s natural person powers or other powers in the entity’s Act: a delegate or agent indemnified by the board under its natural person powers, or the common law, in relation to any claim or proceeding. This section does not apply to any guarantee or indemnity that is implied at law or arising from any transactions that may be authorised under regulations made under this Part. Section 163(1): amended, on 1 July 2014, by section 69 of the Crown Entities Amendment Act 2013 (2013 No 51). 164 Restrictions on use of derivatives A Crown entity must not enter into an agreement constituting a derivative, or amend the terms of that agreement, other than as provided in section 160. Section 164: replaced, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). 93