Document ID: chunk:federal_register_of_legislation:C2025C00185:section:283cc
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 283CC
Character Range: 1004752–1005351

283CC  Duty to inform trustee about security interests
  If the guarantor creates a security interest, it must:
 (a) give the trustee written details of the security interest within 21 days after it is created; and
 (b) if the total amount to be advanced on the security of the security interest is indeterminate, give the trustee written details of:
 (i) the amount of each advance made within 7 days after it is made; or
 (ii) where the advances are merged in a current account with bankers, trade creditors or anyone else—the net amount outstanding on the advances at the end of every 3 months.