Corporations Amendment Regulations 2010 (No. 1)¹

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Corporations Act 2001.

Dated 24 March 2010

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

1              Name of Regulations

                These Regulations are the Corporations Amendment Regulations 2010 (No. 1).

2              Commencement

                These Regulations commence on the day after they are registered.

3              Amendment of Corporations Regulations 2001

                Schedule 1 amends the Corporations Regulations 2001.

Schedule 1        Amendments

(regulation 3)

[1]           After Chapter 2K

insert

Chapter 2L  Debentures

Part 2L.2            Duties of borrower

2L.2.01   Register relating to trustees for debenture holders

         (1)   For subsection 283BCA (2) of the Act, ASIC must enter the following details in the register in relation to a trustee for debenture holders:

                (a)    the name and address of the trustee;

               (b)    either:

                          (i)    if the trustee has an ACN — the trustee’s ACN; or

                         (ii)    the trustee’s ABN;

                (c)    the name and address of the borrower who appointed the trustee;

               (d)    the name of the trust for which the trustee has been appointed to act;

                (e)    the day the trust deed was executed.

         (2)   If ASIC receives a notice from a borrower under subsection 283BC (2) of the Act that the trustee has revoked the trust deed, it must amend the register by removing the details entered on the register in relation to the trustee.

[2]           Paragraph 9.1.01 (o)

omit

the Act.

insert

the Act;

[3]           After paragraph 9.1.01 (o)

insert

               (p)    the register relating to trustees for debenture holders kept under section 283BCA of the Act.

[4]           Subparagraph 9.1.02 (o) (ii)

omit

the Act.

insert

the Act;

[5]           After subparagraph 9.1.02 (o) (ii)

insert

               (p)    in relation to the register relating to trustees for debenture holders kept under section 283BCA of the Act:

                          (i)    all of the information in the register which ASIC considers appropriate for a person to search in accordance with subsection 1274A (3) of the Act; or

                         (ii)    all of the information in the register which ASIC considers appropriate to make available in accordance with subsection 1274A (4) of the Act.

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.