283BD
In forceDuty to replace trustee
Volume 2Chapter 2L, Part 2L.1 to Chapter 5, Part 5.9 sections 283AA to 600K
Chapter 2LDebentures
Part 2L.2Duties of borrower
283BD Duty to replace trustee
The borrower must take all reasonable steps to replace the trustee under section 283AE as soon as practicable after the borrower becomes aware that the trustee:
(a)
has ceased to exist; or
(b)
has not been validly appointed; or
(c)
cannot be a trustee under section 283AC; or
(d)
has failed or refused to act as trustee.
This Act’s bill:Explanatory memorandumSecond reading speech
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