Section 20

Subject to this Act, a guarantor shall not, by reason of the operation of this Act, be discharged from liability under his guarantee.

The liability of a guarantor shall continue notwithstanding that the owner has, pursuant to the provisions of a regulated agreement, taken possession of the goods comprised in the regulated agreement (and whether or not the goods have been redelivered to the hirer pursuant to this Act).

Nothing in subsection (2) shall operate to preserve the liability of a guarantor where the owner and the hirer have entered into a new agreement in respect of the goods comprised in any regulated agreement.

No guarantor shall be liable to any further or other extent than the hirer, the performance of whose obligations he has guaranteed.

Nothing in this Act shall affect any agreement by the guarantor binding him to the performance of any obligation that is not one of the obligations imposed on the hirer under the regulated agreement in respect of which the guarantee is given.

Where goods have been delivered to the hirer pursuant to a regulated agreement and the owner subsequently takes possession of the goods, any guarantor who has paid any moneys to the owner in accordance with his guarantee shall have the like right in like manner to recover those moneys as he would have had if he had been the hirer of the goods.

For the purpose of calculating the amount received by the owner, all moneys paid and the value of any other consideration provided by or on behalf of the hirer shall be deemed to have been paid or provided by the guarantor.

No moneys shall be recovered by the guarantor in excess of the moneys actually paid by him.