(1) Prior to executing the Government guarantee under section 46, the borrower shall pay —
(a) the prescribed Government guarantee fee which includes —
(i) administrative costs incurred by the Government in issuing the Government guarantee,
(ii) a fee for risks borne by the Government; and
(b) other expenses incurred by the Government in relation to a Government guarantee.
(2) A borrower shall pay the prescribed annual Government guarantee fee.