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 260GE   DUTY TO INFORM TRUSTEE ABOUT CHARGES  

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260GE     If the borrower creates a charge, it must:

(a)  give the trustee written details of the charge within 21 days after it is created; and

(b)  if the total amount to be advanced on the security of the charge is indeterminate and the advances are not merged in a current account with bankers, trade creditors or anyone else - give the trustee written details of the amount of each advance within 7 days after it is made.

Note:

If the advances are merged in a current account the borrower must give the trustee the details in the quarterly report (see subsection 260GF(4)).

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History

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

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