New South Wales Consolidated Acts

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RETAIL LEASES ACT 1994 - SECT 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 lesseeā€™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).



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