3047Administration bond—affidavit of justification

3047 Administration bond—affidavit of justification (1) A surety, other than an exempt surety, must justify by affidavit. Note See approved form 3.22 (Affidavit of justification) AF2017-177. (2) A surety that is a corporation must make an affidavit by a proper officer. (3) An affidavit by a surety for an administration bond must contain enough information about the surety’s financial position to satisfy the registrar that the surety can meet any claim under the bond. (4) The registrar may accept an affidavit of justification from a corporation at least once every year instead of requiring an affidavit in every case that the corporation is a surety. (5) The registrar may require a surety for an administration bond who justifies by affidavit to give the registrar further information if there is not enough information in the affidavit for the registrar to be satisfied that the surety can meet any claim under the bond. (6) The further information must be given in the way the registrar requires, either— (a) by another affidavit; or (b) by the oral examination of the person who made the affidavit of justification on oath before the registrar. exempt surety means— (a) an authorised deposit-taking institution; or Rule 3048 (b) an entity declared by the registrar under rule 3048 (1) to be an exempt surety. Note Authorised deposit-taking institution is defined in the Legislation Act, dict, pt 1 as an authorised deposit-taking institution under the Banking Act 1959 (Cwlth).