CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 2G - MEETINGS
History
Ch 2G inserted by No 61 of 1998, Sch 1 (effective
1 July 1998).
PART 2G.4 - MEETINGS OF MEMBERS OF REGISTERED MANAGED INVESTMENT SCHEMES
Division 3 - Members' rights to put resolutions etc at meetings of members
SECTION 252L
MEMBERS' RESOLUTIONS
252L(1)
(Notice of resolution)
The following members of a registered scheme may give the responsible entity notice of a resolution that they propose to move at a meeting of the scheme's members:
(a)
members with at least 5% of the votes that may be cast on the resolution; or
(b)
at least 100 members who are entitled to vote at a meeting of the scheme's members.
History
S 252L(1) amended by No 156 of 1999, Sch 3, Pt 9 (effective 13 March 2000).
S 252L(1) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
*252L(1A)
[Resolution]
The resolution must be:
(a)
a special resolution; or
(b)
an extraordinary resolution; or
(c)
a resolution to remove the responsible entity of a scheme that is listed and choose a new responsible entity.
History
S 252L(1A) inserted by No 156 of 1999, Sch 3, Pt 9 (effective 13 March 2000).
*252L(1A)
[Regulations]
The regulations may prescribe a different number of members for the purposes of the application of paragraph
(1)(b) to:
(a)
a particular scheme; or
(b)
a particular class of scheme.
Without limiting this, the regulations may specify the number as a percentage of the total number of members of the scheme.
*CCH Note:
No 156 of 1999 inserted two versions of subsection 252L(1A). We have reproduced both subsections.
History
S 252L(1A) inserted by No 156 of 1999, Sch 6 (effective 13 March 2000).
252L(2)
[Form and content of notice]
The notice must:
(a)
be in writing; and
(b)
set out the wording of the proposed resolution; and
(c)
be signed by the members giving the notice.
History
S 252L(2) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
252L(3)
[Separate copies]
Separate copies of a document setting out the notice may be used for signing by members if the wording of the notice is identical in each copy.
History
S 252L(3) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
252L(4)
[Determining votes]
The percentage of the votes that members have is to be worked out as at the midnight before the members give the notice.
History
S 252L(4) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
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