Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 260GB

The borrower must:

(a)

carry on and conduct its business in a proper and efficient manner; and

(b)

provide a copy of the trust deed to:

(i)

a debenture holder; or

(ii)

the trustee;

if they request a copy; and

(c)

make all of its financial and other records available for inspection by:

(i)

the trustee; or

(ii)

an officer or employee of the trustee authorised by the trustee to carry out the inspection; or

(iii)

a registered company auditor appointed by the trustee to carry out the inspection;

and give them any information, explanations or other assistance that they require about matters relating to those records.

Note: The borrower also has a duty to call a meeting of debenture holders in certain circumstances (see section 260KA).