Document ID: chunk:federal_register_of_legislation:F2005L02320:body:0:p2
Version: federal_register_of_legislation:F2005L02320
Segment Type: other
Provision Reference: 
Character Range: 2686–5681

basis of which the Trustee is approved, to subparagraph <<26(1)(b)(ii)>><<26(1)(b)(ii)(a)>>;

   C. This Deed is in the form of the approved guarantee determined by APRA in accordance with section 11E of the Act for the purposes of paragraph 26(1)(b)(ii), paragraph 26(1)(b)(iia) and subsection 26(1A) of the Act, during the licensing transition period;

    D. The Guarantor accordingly undertakes the obligations specified in this Deed.

NOW THIS DEED WITNESSES:

     Interpretation

    1. In this Deed:

    (a) approved guarantee has the meaning given in section 11E of the Act

    (b) approved trustee has the meaning given in section 10 of the Act.

       (c) agreed amount means <<five million dollars>> Australian currency.<<insert amount where approval is applied for under paragraph 26(1)(b)(ii)(a) of the Act.>>

    (d) beneficiary has the meaning given in section 10 of the Act.

       (e) default means

           (i) any failure 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.

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

       (g) licensing transition period has the meaning given in section 10 of the Act.

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

       (i) 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.

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

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

       (l) 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