An 'all moneys' guarantee transferred under the Financial Sector (Business Transfer and Group Restructure) Act 1999 (Cth) as a 'translated instrument' is capable of securing debts subsequently owed to the receiving body, even where no debt was owing to the transferring body at the date of transfer, provided the guarantee had not been terminated. An assumption as to the existence of a contract of guarantee between parties is an assumption of fact (or mixed fact and law) capable of grounding a common law estoppel by convention. An indemnity clause described as an 'additional obligation' enforceable against the guarantor 'as principal debtor' and 'separately from the guarantee' does not require a prior demand where the guarantee clause (but not the indemnity clause) expressly requires demand.
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