Secured party or grantor is a trustee

Current

(1)

For items 1 and 2 of the table in subsection 153(1) of the Act, this clause applies if the secured party or grantor is:

(a)

a body corporate that is a trustee of a trust that:

(i)

has an ABN; and

(ii)

does not have an ARSN; or

(b)

any other trustee of a trust.

(2)

The details mentioned in each item of the table, from the source mentioned for the item, are prescribed for the trustee mentioned in the item.

(3)

For subclause (2), the prescribed details are:

(a)

for a trustee that is an individual—the details mentioned in the item of the table in clause 1.2 that:

(i)

applies to the trustee; and

(ii)

has the lowest item number; and

(b)

in any other case—the details mentioned in the item of the table that:

(i)

applies to the trustee; and

(ii)

has the lowest item number.

(4)

In this clause:

trustee details means:

(a)

the ABN allocated to the enterprise carried on by the trust; or

(b)

the ACN or ARBN allocated to the trustee; or

(c)

the name of the trust or trustee.

(5)

Item 1 of the table applies only to a registration by the Registrar under subsection 333(2) of the Act.

Item	Trustee	Details	Source
1	Trustee of a trust for which details have been included on the transitional register, for a migrated security interest	Trustee details, as recorded on the transitional register	Transitional register
2	Trustee of a trust that holds or has an interest in collateral in the course of, or for, an enterprise that has been allocated an ABN	ABN	Australian Business Register
3	Trustee of any other trust	Trustee details mentioned in paragraph (3)(a)	Source mentioned in paragraph (3)(a)

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