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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 283BB
General duties
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 283EA).
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