Document ID: chunk:federal_register_of_legislation:C2025C00185:section:283eb
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 283EB
Character Range: 1011588–1012433

283EB  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.