Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf 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.