Commonwealth Consolidated Acts Commonwealth Consolidated ActsTrustee 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.