THE CORPORATIONS LAW

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

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History

Chapter 2L was inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

PART 2L.2 - DUTIES OF BORROWER

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History

Part 2L.2 was inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

SECTION 260GB   GENERAL DUTIES  

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260GB     The borrower must:

(a)  carry on and conduct its business in a proper and efficient manner; and

(b)  provide a copy of the trust deed to:

(i) a debenture holder; or

(ii) the trustee;

if they request a copy; and

(c)  make all of its financial and other records available for inspection by:

(i) the trustee; or

(ii) an officer or employee of the trustee authorised by the trustee to carry out the inspection; or

(iii) a registered company auditor appointed by the trustee to carry out the inspection;

and give them any information, explanations or other assistance that they require about matters relating to those records.

Note:

The borrower also has a duty to call a meeting of debenture holders in certain circumstances (see section 260KA).

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History

S 260GB inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

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