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CORPORATIONS ACT 2001

CHAPTER 2L - DEBENTURES  

PART 2L.2 - DUTIES OF BORROWER  

SECTION 283BB  

283BB  GENERAL DUTIES  

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 283EA).


 



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