Duty to inform trustee about security interests
If the guarantor creates a security interest, it must: (a) give the trustee written details of the security interest within 21 days after it is created; and (b) if the total amount to be advanced on the security of the security interest is indeterminate, give the trustee written details of: (i) the amount of each advance made within 7 days after it is made; or (ii) where the advances are merged in a current account with bankers, trade creditors or anyone else—the net amount outstanding on the advances at the end of every 3 months.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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