Commonwealth Consolidated Acts

NAVIGATION ACT 1912 - SECT 418A

             (1)  A security required or authorized to be given under this Act shall be given in a manner and form approved by the Minister or the Authority, as appropriate, by instrument in writing and may, subject to that approval, be by bond, guarantee, cash deposit or any other method, or by 2 or more different methods.

             (2)  The prescribed form of security shall suffice for all the purposes of a bond or guarantee under this Act, and, without sealing, shall bind its subscribers as if sealed, and, unless otherwise provided therein, jointly and severally and for the full amount.