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.3 - DUTIES OF GUARANTOR

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History

Part 2L.3 was inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).

SECTION 260HC   DUTY TO INFORM TRUSTEE ABOUT CHARGES  

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260HC     If the guarantor 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, give the trustee written details of:

(i) the amount of each advance made within 7 days after it is made; or

(ii) where the advances are merged in a current account with bankers, trade creditors or anyone else - the net amount outstanding on the advances at the end of every 3 months.

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History

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

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