Document ID: chunk:federal_register_of_legislation:F2005L00415:body:0:p3
Version: federal_register_of_legislation:F2005L00415
Segment Type: other
Provision Reference: 
Character Range: 5294–8027

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, whichever is later.

    Written demand and time for payment

   5. Written demand under this Guarantee may be made during the term of this Guarantee upon default by the Trustee (regardless of when the default occurs) and the Guarantor shall make cash payment under this Deed without set-off, whether legal or equitable, counter claims, conditions, deductions or withholdings, no later than 30 days after such demand is made:

   (a) by the Trustee; or

       (b) by any acting trustee or other trustee appointed in place of the Trustee pursuant to the general law or to the provisions of the Act or the Regulations, or of any law of the Commonwealth or of any State or Territory; or

       (c) by any receiver or receiver and manager or administrator or liquidator or provisional liquidator of the Trustee or of any superannuation entity of which the Trustee was trustee during the term of this Guarantee, appointed pursuant to any law of the Commonwealth or of any State or Territory; and

        (d) such written demand shall contain, or be accompanied by particulars of the default by the Trustee upon which the demand is based, including a quantification of the amount of the liability (provided that neither bona fide errors or omissions in the particulars nor an inaccurate quantification of the liability shall invalidate the demand); and

       (e) 'particulars of the default' may include an auditor's certificate or an order of a court or tribunal; and

       (f) nothing in this clause shall be interpreted as requiring the Trustee or any other person referred to in subparagraph (b)or (c) of this clause to defend any claim or otherwise determine in a court or tribunal the amount of any liability prior to making demand upon the Guarantor; and

       (g) nothing in this clause shall be interpreted as requiring the Guarantor to guarantee under this Deed any liability whatsoever of any acting or other trustee or receiver or receiver and manager or administrator or liquidator or provisional liquidator referred to in this clause.

 Demand to be conclusive

       6. (a) The particulars provided under clause 5(d) of this Deed shall be conclusive evidence of default by the Trustee and the Guarantor shall not be obliged to make any enquiry; and
        (b) The Trustee's determination (or the determination of any other person referred to in Clause 5 of this Deed) of any calculation required under this Guarantee, or which may be done for the purposes of this Guarantee (including, without limitation, the