Corporations Legislation Amendment Act 2003 (24 of 2003)

Schedule 1   Repeal of annual return requirements

Corporations Act 2001

18   After subsection 163(3)

Insert:

(3A) For a company changing to a proprietary company, if any of the particulars in the register kept by the company under section 169 and mentioned in paragraph 178A(1)(b) are different from the particulars set out:

(a) in the latest extract of particulars received by the company; or

(b) if the company responded to the latest extract it received - in the company's extract taken together with the company's response to the extract;

the application must set out those different particulars in addition to the other information required by this section.

(3B) If the company has more than 20 members, the company is only required to set out the different particulars under subsection (3A) that relate to a person who is a top 20 member of a class of the company.

Note: See also section 107.

(3C) If subsection (3A) applies and any details mentioned in subsection 178C(1) are different from the details set out:

(a) in the latest extract of particulars received by the company; or

(b) if the company responded to the latest extract it received - in the company's extract taken together with the company's response to the extract;

the application must set out those different details as well.