Corporations Act 2001
The trust deed must provide that the following are held in trust by the trustee for the benefit of the debenture holders:
(a) the right to enforce the borrower's duty to repay;
(b) any charge or security for repayment;
(c) the right to enforce any other duties that the borrower and any guarantor have under:
(i) the terms of the debentures; or
(ii) the provisions of the trust deed or this Chapter.
Note: For information about the duties that the borrower and any guarantor body have under this Chapter, see sections 283BB to 283CE.
283AB(2) [ Strict liability offence]An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
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