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Reference received: 2 March 1999
Report 107: Guaranteeing someone else's debt (PDF, 1.3 MB), November 2006
Issues Paper 17: Guaranteeing Someone Else's Debts, April 2000
A summary of Issues Paper 17 was also published
To inquire into and report on the legal framework for the protection of guarantors of small business and other loans and in particular, to consider:
(i) whether the present legal framework adequately protects the interests of personal guarantors of small business and other loans;
(ii) whether there is a reasonable level of satisfaction in the community with the operation and application of the existing laws protecting guarantors of small business and other loans, in particular, whether those guarantors, financiers and principal borrowers are satisfied with the present legal framework;
(iii) whether there are more practical and effective strategies for the provision of personal guarantees of small business and other loans that would enhance the development of conscientious lending practices while not placing undue constraints on small business lending; and
(iv) any related matters.
In carrying out its review, the Commission is to have regard to:
We acknowledge Aboriginal people as the First Nations Peoples of NSW and pay our respects to Elders past, present and future. We acknowledge the ongoing connection Aboriginal people have to this land and recognise Aboriginal people as the original custodians of this land.