Section 283BD — Corporations Act 2001 (Cth)

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.

Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.

Related sections

s 283BB — General duties
s 283BC — Duty to notify ASIC of information related to trustee
s 283BCA — Register relating to trustees for debenture holders
s 283BE — Duty to inform trustee about security interests
s 283BF — Duty to give trustee and ASIC quarterly reports
s 283BG — Exceptions to borrower’s duty to report to trustee and ASIC

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