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CORPORATIONS ACT 2001

CHAPTER 2L - DEBENTURES  

PART 2L.7 - ASIC POWERS  

SECTION 283GB  ASIC MAY APPROVE BODY CORPORATE TO BE TRUSTEE  

283GB(1)  [ Approval]  


ASIC may approve a body corporate in writing to be a trustee for the purposes of paragraph 283AC(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.

283GB(2)  [ Publication in the Gazette ]  


ASIC must publish notice of the approval in the Gazette .

 



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