Corporations Act 2001

CHAPTER 2L - DEBENTURES  

PART 2L.1 - REQUIREMENT FOR TRUST DEED AND TRUSTEE  

SECTION 283AD  

283AD   EXISTING TRUSTEE CONTINUES TO ACT UNTIL NEW TRUSTEE TAKES OFFICE  
An existing trustee continues to act as the trustee until a new trustee is appointed and has taken office as trustee, despite any rule of law or equity to the contrary.

Note: This section applies even if the existing trustee resigns.