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CORPORATIONS ACT 2001

CHAPTER 2L - DEBENTURES  

PART 2L.5 - MEETINGS OF DEBENTURE HOLDERS  

SECTION 283EB  TRUSTEE'S POWER TO CALL MEETING  

283EB(1)  Trustee may call meeting in event of breach.  


If the borrower or a guarantor fails to remedy any breach of the terms of the debentures or provisions of the trust deed or this Chapter when required by the trustee, the trustee may:


(a) call a meeting of debenture holders; and


(b) inform the debenture holders of the failure at the meeting; and


(c) submit proposals for protection of the debenture holders' interests to the meeting; and


(d) ask for directions from the debenture holders in relation to the matter.

283EB(2)  Trustee may appoint person to chair meeting.  


The trustee may appoint a person to chair a meeting of debenture holders called under subsection (1). If the trustee does not exercise this power, the debenture holders present at the meeting may appoint a person to chair the meeting.

 



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