Register relating to trustees for debenture holders
2L.2.01 Register relating to trustees for debenture holders
For subsection 283BCA(2) of the Act, ASIC must enter the following details in the register in relation to a trustee for debenture holders:
the name and address of the trustee;
either:
if the trustee has an ACN—the trustee’s ACN; or
the trustee’s ABN;
the name and address of the borrower who appointed the trustee;
the name of the trust for which the trustee has been appointed to act;
the day the trust deed was executed.
If ASIC receives a notice from a borrower under subsection 283BC(2) of the Act that the trustee has revoked the trust deed, it must amend the register by removing the details entered on the register in relation to the trustee.
This Act’s bill:Explanatory statement
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