s 87 Power of trustee to call a meeting
(1) Where a borrower or guarantor fails to remedy any breach of the terms, provisions or covenants of a debenture or a trust deed or any contravention of any provision of this Act when required by the trustee, the trustee may— (a) call a meeting of debenture holders; (b) inform the debenture holders of the failure at the meeting; (c) submit proposals for the protection of debenture holders’ interests to the meeting; and (d) ask for directions from the debenture holders in relation to the matter. (2) A trustee may appoint a person to chair a meeting of debenture holders called under subsection (1) and where the trustee does not exercise this power the debenture holders present at the meeting may appoint a person to chair the meeting. (3) A trustee is entitled to be reimbursed by the borrower for any costs incurred in calling for a meeting of debenture holders in pursuance of any of its duties or functions under this Act or any term, provision or covenant of the debenture or the trust deed.