Northern Territory Consolidated Regulations

CO-OPERATIVES REGULATIONS - REG 26

For the purposes of section 310(6) of the Act, the security a liquidator must give is $50,000 in the form of:

        (a)     cash;

        (b)     a cheque drawn on a financial institution;

        (c)     a certificate of deposit issued by a financial institution;

        (d)     a debenture or security that is guaranteed by the Government of a State or Territory or by the Government of the Commonwealth; or

        (e)     a surety issued by a financial institution or a body corporate authorised to carry on insurance business under the Insurance Act 1973 of the Commonwealth.