Commentary on Sections Overview Overview Section 153: Arm’s length provision where security issued and guarantee given
320.This section provides that, where a security is issued by one of the affected persons and a guarantee given by the other, in applying the basic rule in section 147, account must be taken of whether that guarantee would have been given, and would have been given on the same terms, if the parties had been at arm’s length. It is based on paragraph 1B(1) to (5) of Schedule 28AA to ICTA.