Trustee’s power to call meeting
Trustee may call meeting in event of breach (1) If the borrower or a guarantor fails to remedy any breach of the terms of the debentures or provisions of the trust deed or this Chapter when required by the trustee, the trustee may: (a) call a meeting of debenture holders; and (b) inform the debenture holders of the failure at the meeting; and (c) submit proposals for protection of the debenture holders’ interests to the meeting; and (d) ask for directions from the debenture holders in relation to the matter. Trustee may appoint person to chair meeting (2) The trustee may appoint a person to chair a meeting of debenture holders called under subsection (1). If the trustee does not exercise this power, the debenture holders present at the meeting may appoint a person to chair the meeting.
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.
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