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Whitehaven Coal Limited : Annual Report 2012
Whitehaven Coal Limited -- Annual Report 2012 139 NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2012 40. DEED OF CROSS GUARANTEE Pursuant to ASIC Class Order 98/1418 (as amended) dated 13 August 1998, the wholly-owned subsidiaries listed below are relieved from the Corporations Act 2001 requirements for preparation, audit and lodgement of financial reports, and directors' report. It is a condition of the Class Order that the Company and each of the subsidiaries enter into a Deed of Cross Guarantee. The effect of the Deed is that the Company guarantees to each creditor payment in full of any debt in the event of winding up of any of the subsidiaries under certain provisions of the Corporations Act 2001. If a winding up occurs under other provisions of the Act, the Company will only be liable in the event that after six months any creditor has not been paid in full. The subsidiaries have also given similar guarantees in the event that the Company is wound up. The subsidiaries subject to the Deed are: • Whitehaven Coal Mining Limited • Namoi Mining Pty Ltd • Betalpha Pty Ltd • Tarrawonga Coal Pty Ltd • Whitehaven Coal Holdings Limited • Whitehaven Coal Infrastructure Pty Ltd • Narrabri Coal Pty Ltd • Narrabri Coal Operations Pty Ltd • Narrabri Coal Sales Pty Ltd • Creek Resources Pty Ltd • Werris Creek Coal Sales Pty Ltd • Werris Creek Coal Pty Ltd • WC Contract Hauling Pty Ltd • Whitehaven Blackjack Pty Ltd • Whitehaven Project Holdings Pty Ltd • Whitehaven Project Pty Ltd • Aston Resources Ltd • Aston Coal 2 Pty Ltd • Aston Coal 3 Pty Ltd • Maules Creek Coal Pty Ltd • Boardwalk Resources Ltd • Boardwalk Coal Management Pty Ltd • Boardwalk Coal Marketing Pty Ltd • Boardwalk Sienna Pty Ltd • Boardwalk Monto Pty Ltd • Boardwalk Dingo Pty Ltd • Boardwalk Ferndale Pty Ltd The Company and each of the subsidiaries entered into the deed on 28 June 2012. The Deed of Cross Guarantee includes the Company and subsidiaries which are included within the statement of comprehensive income and statement of financial position of the consolidated entity.
Annual Report 2011
Annual Report 2013