THE CORPORATIONS LAW

CHAPTER 2L - DEBENTURES

PART 2L.5 - MEETINGS OF DEBENTURE HOLDERS

SECTION 260KC   COURT MAY ORDER MEETING  

260KC(1)  [Content of order]  

Without limiting section 260NA or 260NB, the Court may make an order under either of those sections for a meeting of all or any of the debenture holders to be held to give directions to the trustee. The order may direct the trustee to:

(a)  place before the debenture holders any information concerning their interests; and

(b)  place before the debenture holders any proposals to protect their interests that the Court directs or the trustee considers appropriate; and

(c)  obtain the debenture holders' directions concerning the protection of their interests.

260KC(2)  [Conduct of meeting]  

The meeting is to be held and conducted in the manner the Court directs. The trustee may appoint a person to chair the meeting. If the trustee does not exercise this power, the debenture holders present at the meeting may appoint a person to chair the meeting.