Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_915b:p2
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 915B (pt 2/2)
Character Range: 305094–305746

or
 (ii) is convicted of serious fraud; or
 (iii) becomes incapable of managing their affairs because of physical or mental incapacity; or
 (c) a trustee that is a body corporate becomes an externally‑administered body corporate; or
 (d) the trustees lodge with ASIC an application for ASIC to do so, which is accompanied by the documents, if any, required by regulations made for the purposes of this paragraph.

Note 1: For fees in respect of lodging applications, see Part 9.10.

Note 2: If there is only one trustee, subsection (1) will apply (if the trustee is a natural person), and subsection (3) will apply (if the trustee is a body corporate).