ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART IV - SHARES, DEBENTURES AND CHARGES
DIVISION 5 - INTERESTS OTHER THAN SHARES, DEBENTURES, ETC.

 
Section 86. Approval of deeds.
 
Section 86. Approval of deeds. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) Where a deed makes provision for the appointment of a company as trustee for or representative of the holders of interests issued or proposed to be issued by a company the Registrar may, subject to this section, grant his approval to the deed.

(2) The Registrar shall not grant his approval to a deed unless the deed—

    (a) complies with the requirements of this Division; and

    (b) makes provision for such other matters and things as are required by or under the regulations to be included in the deed and if regulations have been made prescribing the charges that may be made by a management company, unless the deed provides—

      (i) that the charges to be made by the management company do not exceed such percentages or amounts as are prescribed; and

      (ii) that the price at which the interests to which the deed relates are to be sold or purchased by the management company are consistent with the regulations relating to those prices.

(3) Within seven days after a deed has been approved under this section, the management company shall lodge in the office of the Registrar the deed, or a copy of the deed verified by statutory declaration, and the copy shall for all purposes, in the absence of proof that it is not a true copy, be regarded as an original.