Document ID: chunk:federal_register_of_legislation:C2005C00508:clause:2_4
Version: federal_register_of_legislation:C2005C00508
Segment Type: clause
Provision Reference: sch 2 cl 4
Character Range: 108270–109314

4  At the end of section 52ZA
Add:

Attributable stakeholder of a company or trust

 (3) This subsection applies to a person if:
 (a) either:
 (i) the person is an attributable stakeholder of a company or trust (within the meaning of Division 11A); or
 (ii) the person is a member of a couple and the other member of the couple is an attributable stakeholder of a company or trust (within the meaning of Division 11A); and
 (b) the company or trustee has given the Commonwealth a guarantee that the company or trustee will pay any debt that may become payable to the Commonwealth by the person under this Subdivision; and
 (c) the company's or trustee's liability under the guarantee is secured by a charge against real property of the company or trust in Australia; and
 (d) the Commission is satisfied that the value of that real property is sufficient to secure the payment of any amount that may become payable by the company or trustee under the guarantee; and
 (e) the Commission has, by writing, approved the guarantee and the charge.