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CORPORATIONS ACT 2001

CHAPTER 2L - DEBENTURES  

PART 2L.2 - DUTIES OF BORROWER  

SECTION 283BD  

283BD  DUTY TO REPLACE TRUSTEE  

The borrower must take all reasonable steps to replace the trustee under section 283AE as soon as practicable after the borrower becomes aware that the trustee:


(a) has ceased to exist; or


(b) has not been validly appointed; or


(c) cannot be a trustee under section 283AC; or


(d) has failed or refused to act as trustee.

 



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