guarantors Auditor to give trustee for debenture holders copies of reports,
certificates etc.
(1) The auditor of a borrower in relation to debentures
must give the trustee for debenture holders:
- (a)
- a copy of any report,
certificate or other document that the auditor must give the borrower or its
members under this Act, the debentures or the trust deed; and
- (b)
- a copy of any document that accompanies it.
The copies must be given within 7 days after the auditor gives the originals
to the borrower or its members.
Auditor to report on matters prejudicial to debenture holders' interests
(2)
The auditor of a borrower, or guarantor, in relation to debentures must give
the borrower or guarantor a written report about any matter that:
- (a)
- the
auditor became aware of in conducting the audit or review; and
- (b)
- in the auditor's opinion, is or is likely to be prejudicial to the
interests of debenture holders; and
- (c)
- in the auditor's opinion, is relevant to the exercise of the powers of the
trustee for debenture holders, or the performance of the trustee's duties,
under this Act or the trust deed.
The auditor must give a copy of the report to the trustee for debenture
holders. The report and the copy must be given within 7 days after the auditor
becomes aware of the matter.
Commonwealth Numbered Acts