Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 283BB

General duties

The borrower must:

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

provide a copy of the trust deed to:

a debenture holder; or
the trustee;
if they request a copy; and

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

the trustee; or
an officer or employee of the trustee authorised by the trustee to carry out the inspection; or
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 283EA).

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