16BGuarantees and other forms of security

16B Guarantees and other forms of security

16B Guarantees and other forms of security

(1) A retail shop lease is taken to include a provision to the effect that the lessor is not entitled to unreasonably refuse to accept a guarantee from an authorised deposit-taking institution in satisfaction of any requirement to provide a security bond or other bond or a third party guarantee for the performance of the lessee’s obligations under the lease.

(2) Security provided otherwise than in the form of a security bond is not otherwise subject to the requirements of this Part (except section 16BA).

s 16B: Ins 2005 No 90, Sch 1 [22]. Am 2017 No 2, Sch 1 [31].