Senator Sherry: The Minister for Financial Services and Superannuation has provided the following answer to the honourable senator's question: The Australian Bankers Association has released the Code of Banking Practice. The Code sets out in detail what the member banks of the ABA will do before they take a guarantee. The Code of Banking Practice requires that before a guarantee is taken, the bank must provide a prominent notice indicating: that the person should seek independent legal and financial advice on the effect of the guarantee; that the person can refuse to enter into the guarantee; and that there are financial risks involved. Banks have a duty to disclose relevant issues to a third party guarantor. In addition, guarantees may be overturned because of unconscionable conduct; instances of duress; undue influence; and inequality of bargaining power due to a specific disadvantage or disability.