Sch 1 (National Credit Code), s 55
In forceForm of guarantee
Volume 1Chapters 1 to 6 (sections 1 to 322)
Chapter 6Compliance and enforcement
Part 6-2Examination of persons
55 Form of guarantee
(1)
A guarantee must be in writing signed by the guarantor.
(2)
It is sufficient compliance with subsection (1) if the guarantee is contained in a mortgage signed by the guarantor.
(3)
The regulations may make provision for or with respect to the content of guarantees and the way they are expressed.
(4)
A guarantee is not enforceable unless it complies with this section and regulations made under this section.
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