Document ID: chunk:federal_register_of_legislation:C2010C00306:clause:1_52
Version: federal_register_of_legislation:C2010C00306
Segment Type: clause
Provision Reference: sch 1 cl 52
Character Range: 28657–29741

52  Bank guarantee required under right to negotiate procedures

 (1) This section applies if a condition to be complied with under:
 (a) a determination made under section 36A; or
 (b) a determination made under section 38; or
 (c) a declaration made under section 42;
in respect of an act is that an amount is to be secured by bank guarantee given by an authorised deposit‑taking institution within the meaning of the Banking Act 1959 (an ADI) in favour of the Registrar.

Directions to ADI and payments to ultimate beneficiaries

 (2) The Registrar must take the action set out in column 3 of the following table in the circumstances set out in column 2 of the table:

Directions to ADI and payments to ultimate beneficiaries
Item                                                      If:                                                                                                                                                                                                                                                                                 the Registrar must: