THE CORPORATIONS LAW

CHAPTER 2G - MEETINGS

PART 2G.2 - MEETINGS OF MEMBERS OF COMPANIES

Division 4 - Members' rights to put resolutions etc at general meetings

SECTION 249N   MEMBERS' RESOLUTIONS  

249N(1)  (Who may give notice)  

The following members may give a company notice of a resolution that they propose to move at a general meeting:

(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 general meeting.

249N(1A)  [Prescription of members by regulation]  

The regulations may prescribe a different number of members for the purposes of the application of paragraph (1)(b) to:

(a)  a particular company; or

(b)  a particular class of company.

Without limiting this, the regulations may specify the number as a percentage of the total number of members of the company.

249N(2)  [Requirements 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 proposing to move the resolution.

249N(3)  [More than one copy]  

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.

249N(4)  [Percentage of votes]  

The percentage of votes that members have is to be worked out as at the midnight before the members give the notice.