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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 283GB
ASIC may approve body corporate to be trustee
(1) ASIC may approve a body corporate in writing to be a trustee for the
purposes of paragraph 283AC(1)(f). The approval may allow the body corporate
to act as trustee:
- in any circumstances; or
- in relation to a particular borrower or particular class of borrower; or
- 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 .
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