Section 283BB — Corporations Act 2001 (Cth)

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).

Related sections

• s 283AD — Existing trustee continues to act until new trustee takes office
• s 283AE — Replacement of trustee
• s 283BA — Duties of borrower
• s 283BC — Duty to notify ASIC of information related to trustee
• s 283BCA — Register relating to trustees for debenture holders
• s 283BD — Duty to replace trustee

Research how courts apply s 283BB

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