National Consumer Credit Protection Act 2009
SCHEDULE 1
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NATIONAL CREDIT CODE
A guarantee must be in writing signed by the guarantor.
55(2)
It is sufficient compliance with subsection (1) if the guarantee is contained in a mortgage signed by the guarantor.
55(3)
The regulations may make provision for or with respect to the content of guarantees and the way they are expressed.
55(4)
A guarantee is not enforceable unless it complies with this section and regulations made under this section.
Note:
See section 3 of the National Credit Act.
PART 3 - RELATED MORTGAGES AND GUARANTEES Division 2 - Guarantees 55 Form of guarantee 55(1)A guarantee must be in writing signed by the guarantor.
55(2)
It is sufficient compliance with subsection (1) if the guarantee is contained in a mortgage signed by the guarantor.
55(3)
The regulations may make provision for or with respect to the content of guarantees and the way they are expressed.
55(4)
A guarantee is not enforceable unless it complies with this section and regulations made under this section.
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