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.7 - ASIC POWERS

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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  

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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.

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History

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

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