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.7 - ASIC POWERS
History
Part 2L.7 was inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
SECTION 260MB
ASIC MAY APPROVE BODY CORPORATE TO BE TRUSTEE
260MB(1)
[Approval to be trustee]
ASIC may approve a body corporate in writing to be a trustee for the purposes of paragraph
260FC(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.
260MB(2)
[Publication in the
Gazette
]
ASIC must publish notice of the approval in the
Gazette.
History
S 260MB inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
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