Document ID: chunk:federal_register_of_legislation:C2004C01070:clause:1_260mb
Version: federal_register_of_legislation:C2004C01070
Segment Type: clause
Provision Reference: sch 1 cl 260MB
Character Range: 149902–150404

260MB  ASIC may approve body corporate to be trustee

 (1) ASIC may approve a body corporate in writing to be a trustee for the purposes of paragraph 260FC(1)(f). The approval may allow the body corporate to act as trustee:
 (a) in any circumstances; or
 (b) in relation to a particular borrower or particular class of borrower; or
 (c) in relation to a particular trust deed;
and may be given subject to conditions.

 (2) ASIC must publish notice of the approval in the Gazette.

Part 2L.8—Court