Corporations Act 2001

CHAPTER 2G - MEETINGS  

PART 2G.7 - INDEPENDENT REPORTS ON POLLS  

SECTION 253UD   REGISTERED SCHEME MEMBERS ' RIGHTS TO REQUEST OBSERVER AND REPORT ON CONDUCT OF POLL  

253UD(1)    
Members of a registered scheme with at least 5% of the votes that may be cast at a meeting of the scheme ' s members may request the responsible entity of the scheme to appoint an independent person to:

(a)    observe the conduct of a poll at the meeting; and

(b)    prepare a report on the conduct of the poll.

253UD(2)    
The request must:

(a)    be in writing; and

(b)    identify the poll to which it relates; and

(c)    be made no later than 5 business days before the day the meeting is held.

253UD(3)    
A responsible entity of a registered scheme commits an offence if:

(a)    the responsible entity receives a request under subsection (1) ; and

(b)    the responsible entity fails to take reasonable steps to:

(i) ensure that an independent person observes the conduct of the poll to which the request relates; and

(ii) ensure that the independent person prepares a report on the conduct of the poll; and

(iii) ensure that a copy of the report is made readily available to the members of the scheme within a reasonable time after the request is received.

253UD(4)    
An offence based on subsection (3) is an offence of strict liability.

253UD(5)    
A responsible entity of a registered scheme that appoints an independent person for the purposes of this section is liable to pay the independent person ' s fees.

253UD(6)    
To avoid doubt, an independent person appointed for the purposes of this section may be an auditor or a registry service provider (including an auditor or a registry service provider of the registered scheme concerned), unless the relevant poll concerns an issue or a matter relating to the person.