Section 283EB — Corporations Act 2001: 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.