Sch 1 (National Credit Code), s 8
In forceGuarantees to which this Code applies
Volume 1Chapters 1 to 6 (sections 1 to 322)
Schedule 1National Credit Code
8 Guarantees to which this Code applies
(1)
This Code applies to a guarantee if:
(a)
it guarantees obligations under a credit contract; and
(b)
the guarantor is a natural person or a strata corporation.
(2)
If any such guarantee also guarantees other obligations, this Code applies to the guarantee to the extent only that it guarantees obligations under the credit contract.
(3)
The regulations may exclude, from the application of all or any provisions of this Code, a guarantee of a class specified in the regulations.
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