Corporations Act 2001

CHAPTER 2L - DEBENTURES  

PART 2L.7 - ASIC POWERS  

SECTION 283GB   ASIC MAY APPROVE BODY CORPORATE TO BE TRUSTEE  

283GB(1)   [ Approval]  

ASIC may approve a body corporate in writing to be a trustee for the purposes of paragraph 283AC(1)(f). The approval may allow the body corporate to act as trustee:

(a) in any circumstances; or

(b) in relation to a particular borrower or particular class of borrower; or

(c) in relation to a particular trust deed;

and may be given subject to conditions.

283GB(2)   [ Publication in the Gazette ]  

ASIC must publish notice of the approval in the Gazette .