Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1047

1047. (1) A corporation, other than a foreign corporation, that issues
debentures shall keep a register of holders of debentures.

(2) A foreign corporation that issues debentures:

   (a)  pursuant to an application in which an address in Australia or an
        excluded Territory was specified as the address of the applicant for
        debentures; or

   (b)  pursuant to an application made on a form of application attached to,
        or accompanied by, a prospectus a copy of which has been lodged; shall
        keep a register of the holders of those debentures.

(3) A register kept under this section shall:

   (a)  contain particulars of the names and addresses of the holders of
        debentures and the respective amounts of debentures held by them; and

   (b)  except when duly closed, be open for inspection at the place where it
        is kept in accordance with section 1302:

        (i)    by the registered holder of any debentures of, or by any holder
               of shares in, the corporation-without charge; and

        (ii)   by any other person-on payment for each inspection of such
               amount, not exceeding the prescribed amount, as the corporation
               requires or, where the corporation does not require the payment
               of an amount, without charge.

(4) For the purposes of this section, a register shall be deemed to be duly
closed if closed in accordance with provisions contained in the articles, in
the debentures or debenture stock certificates, or in the trust deed or other
document relating to or securing the debentures, during such periods (not
exceeding in total 30 days in any calendar year) as are specified in those
provisions.

(5) A registered holder of debentures of, or a holder of shares in, a
corporation may request the corporation to give to the holder a copy of its
register of the holders of debentures kept under this section or any part of
that register.

(6) A registered holder of debentures of a corporation may request the
corporation to give to the holder a copy of any trust deed relating to or
securing the issue of those debentures.

(7) Where a corporation receives a request under subsection (5) or (6), the
corporation shall comply with the request:

   (a)  if the corporation requires payment of an amount not exceeding the
        prescribed amount-within 21 days after payment of the amount is
        received by the corporation or within such longer period as the
        Commission approves; or

   (b)  otherwise-within 21 days after the request is made or within such
        longer period as the Commission approves.

(8) The Commission may at any time by written notice require a corporation to
lodge a copy of any trust deed relating to or securing the issue of debentures
of the corporation and, where a corporation receives a notice under this
subsection, the corporation shall comply with the notice within 21 days after
the day on which it receives the notice.

(9) In this section:

"debenture", in relation to a corporation, means a document issued by the
corporation that evidences or acknowledges indebtedness of the corporation in
respect of money that is or may be deposited with or lent to the corporation,
whether constituting a charge on property of the corporation or not, other
than: (a) a cheque, order for the payment of money or bill of exchange; or

   (b)  a promissory note having a face value of not less than $50,000;
and includes a unit of a debenture.