Commonwealth Numbered Acts Commonwealth Numbered Acts
1 Section 9 (paragraph (d) of the definition of debenture )
Repeal the paragraph.
2 Section 283BC
Repeal the section, substitute:
283BC Duty to notify ASIC of information related to trustee
(1) Within 14 days after the trustee is appointed, the borrower must lodge with ASIC a notice containing the following information:
(a) the name of the trustee;
(b) any other information related to the trustee or the debentures that is prescribed by the regulations.
(2) If there is any change to the information, the borrower must, within 14 days of the change, lodge with ASIC a notice containing the changed information.
(3) A notice under subsection (1) or (2) must be in the prescribed form.
3 After section 283BC
Insert:
283BCA Register relating to trustees for debenture holders
The register
(1) ASIC must establish and maintain a register relating to trustees for debenture holders.
(2) The regulations may prescribe the way in which the register must be established or maintained, including the details that ASIC must enter in the register.
Inspection of register
(3) A person may inspect the register, and may make copies of, or take extracts from, the register.
(4) The regulations may prescribe the fees that a person must pay ASIC to do the things mentioned in subsection (3).
(5) Any disclosure necessary for the purposes of this section is authorised by this section.