THE CORPORATIONS LAW

CHAPTER 2G - MEETINGS

PART 2G.4 - MEETINGS OF MEMBERS OF REGISTERED MANAGED INVESTMENT SCHEMES

Division 4 - Holding meetings of members

SECTION 252R   QUORUM  

252R(1)  (Application)  

This section applies to a registered scheme subject to the provisions of the scheme's constitution.

252R(2)  (Quorum)  

The quorum for a meeting of a registered scheme's members is 2 members and the quorum must be present at all times during the meeting.

252R(3)  (Proxies and representatives)  

In determining whether a quorum is present, count individuals attending as proxies or body corporate representatives. However, if a member has appointed more than 1 proxy or representative, count only 1 of them. If an individual is attending both as a member and as a proxy or body corporate representative, count them only once.

Note 1:

For rights to appoint proxies, see section 252V.

Note 2:

For body corporate representatives, see section 253B.

252R(4)  (No quorum present)  

A meeting of the scheme's members that does not have a quorum present within 30 minutes after the time for the start of the meeting set out in the notice of meeting is adjourned to the date, time and place the responsible entity specifies. If the responsible entity does not specify 1 or more of those things, the meeting is adjourned to:

(a)  if the date is not specified - the same day in the next week; and

(b)  if the time is not specified - the same time; and

(c)  if the place is not specified - the same place.

252R(5)  (No quorum at resumed meeting)  

If no quorum is present at the resumed meeting within 30 minutes after the time for the start of the meeting, the meeting is dissolved.