Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 260MB

(1)

ASIC may approve a body corporate in writing to be a trustee for the purposes of paragraph 260FC(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.

(2)

ASIC must publish notice of the approval in the Gazette.