The deadline for certifying or re-certifying contingent assets,
in order to secure a PPF levy reduction, is 5.00pm on 31 March
2014.
In a change in policy, a contingent asset can be re-certified
even if it was not used for PPF purposes last year, as long as it
has been certified in one of the previous five years.
If trustees are intending using a group or parent company
guarantee (type A contingent asset) then the certificate must state
that "The Certifier has no reason to believe that each
Certified Guarantor, as at the date of the certificate, could not
meet its full commitment under the Contingent Asset as
certified."
To be able to make the statement above, the trustees are
required to assess the guarantor's financial strength. The PPF
does not prescribe what information should be considered In some
cases trustees may want to commission specific advice or consider
obtaining a letter of comfort from the guarantor about its
financial position, in order to
