Western Australian Repealed Acts Western Australian Repealed ActsThis legislation has been repealed.
(1) In addition to
guaranteeing obligations under a credit contract or proposed credit contract
to which a guarantee initially applies, a guarantee may contain a provision
that makes credit provided under another future credit contract subject to the
guarantee.
(2) Any such guarantee
is unenforceable in relation to such a future credit contract unless the
credit provider has —
(a)
given the guarantor a copy of the contract document of that future credit
contract; and
(b)
subsequently obtained from the guarantor a written acceptance of the extension
of the guarantee or obtained acceptance in some other form provided for by the
regulations.
(3) Section 50 (Form
of guarantee) and section 51 (Disclosure) do not apply to an extension of a
guarantee under this section.