CORPORATIONS ACT 2001 - SECT 283BI

The borrower commits an offence if it intentionally or recklessly contravenes section 283BB, 283BC, 283BD, 283BE, 283BF or 283EA.

1. The borrower intentionally or recklessly breached one of the following duties:

- to conduct its business in a proper and efficient manner;

- to provide a copy of the trust deed upon request;

- to make its records available for inspection;

- to give notice to ASIC of the appointed trustee;

- to take reasonable replace the trustee where necessary;

- to inform the trustee about any charge;

- to give the trustee and ASIC quarterly reports.

1. Factual dispute

2. No intent