CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 2L - DEBENTURES
History
Chapter 2L was inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
PART 2L.1 - REQUIREMENT FOR TRUST DEED AND TRUSTEE
History
Part 2L.1 was inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
SECTION 260FB
TRUST DEED
260FB
The trust deed must provide that the following are held in trust by the trustee for the benefit of the debenture holders:
(a)
the right to enforce the borrower's duty to repay
(b)
any charge or security for repayment
(c)
the right to enforce any other duties that the borrower and any guarantor have under:
(i) the terms of the debentures; or
(ii) the provisions of the trust deed or this Chapter.
Note:
For information about the duties that the borrower and any guarantor body have under this Chapter, see sections
260GB to
260HE.
History
S 260FB inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
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