Document ID: chunk:federal_register_of_legislation:F2005L00415:body:0:p2
Version: federal_register_of_legislation:F2005L00415
Segment Type: other
Provision Reference: 
Character Range: 2649–5497

by the Trustee to perform any duty or obligation imposed on the Trustee under Superannuation Law which results in any financial loss to any superannuation entity of which the Trustee is trustee, or
           (ii) the breach by the Trustee of an enforceable undertaking under section 262A of the Act, to the effect that the Trustee shall make a payment of money to any superannuation entity of which the Trustee is trustee.

       (c) liability means any debt, obligation or liability of whatsoever nature.

       (d) agreed amount means <<five million dollars>> Australian currency.<<insert amount where approval is applied for under subsection 29DA(4) of the Act.>>

       (e) RSE licence has the meaning given in section 10 of the Act.

       (f) security means any mortgage, charge, assignment, title retention arrangement, or other interest, agreement or arrangement of whatsoever nature the purpose of which is to secure the meeting of a liability, and includes a guarantee or indemnity given in relation to a liability.

       (g) superannuation entity includes a superannuation entity and a registrable superannuation entity as respectively defined in section 10 of the Act.

       (h) superannuation fund has the meaning given in section 10 of the Act.

       (i) Superannuation Law means any provision of the governing rules of any superannuation entity, or of the Act, or of the Superannuation Industry (Supervision) Regulations 1994 (the Regulations) or of the Trustee Acts of any State or Territory of Australia, or any requirement of any other law governing superannuation entities or superannuation funds, or the law of equity, or any common law rules applying to trusts or any requirement imposed by APRA or any other government authority responsible for administering the laws or rules governing superannuation entities or superannuation funds.

     Guarantee

    2. The Guarantor unconditionally guarantees all liabilities (up to the agreed amount) of the Trustee in respect of the Trustee's duties as trustee of all superannuation entities of which the Trustee is, or becomes the trustee of during the term of this Guarantee and shall pay upon demand made in accordance with Clause 5 of this Deed.

  No requirement to proceed

   3. Neither the acting trustee nor the Trustee is required to exhaust any remedies it may have (whether under Superannuation Law or otherwise) against any other person in relation to the default of the Trustee, but is entitled to demand and receive payment from the Guarantor immediately any payment is due under this Deed.

 Term of the Guarantee

   4. Except as provided in Clause 10 of this Deed, this Guarantee shall be for a period of five years commencing on the date an RSE licence issued by APRA to the Trustee comes into effect or on the date this Deed is signed by the Guarantor,