Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 (108 of 2009)

Schedule 3   Debentures

Corporations Act 2001

2   Section 283BC

Repeal the section, substitute:

283BC Duty to notify ASIC of information related to trustee

(1) Within 14 days after the trustee is appointed, the borrower must lodge with ASIC a notice containing the following information:

(a) the name of the trustee;

(b) any other information related to the trustee or the debentures that is prescribed by the regulations.

(2) If there is any change to the information, the borrower must, within 14 days of the change, lodge with ASIC a notice containing the changed information.

(3) A notice under subsection (1) or (2) must be in the prescribed form.