Corporations Act 2001

CHAPTER 2E - RELATED PARTY TRANSACTIONS  

Note: This Chapter applies to a CCIV with modifications: see Division 5 of Part 8B.3 .

PART 2E.1 - MEMBER APPROVAL NEEDED FOR RELATED PARTY BENEFIT  

Division 3 - Procedure for obtaining member approval  

SECTION 225   VOTING ON THE RESOLUTION  

225(1)    
If any votes on the resolution are cast in contravention of subsection 224(1) , it must be the case that the resolution would still be passed even if those votes were disregarded.

225(2)    

If a poll was duly demanded, or is otherwise required under section 250JA , on the question that the resolution be passed, subsections (3) and (4) apply in relation to voting on the poll.

225(3)    
In relation to each member of the public company who voted on the resolution in person, the public company must record in writing:

(a)    the member ' s name; and

(b)    how many votes the member cast for the resolution and how many against.

225(4)    
In relation to each member of the public company who voted on the resolution by proxy, or by a representative authorised under section 250D , the public company must record in writing:

(a)    the member ' s name; and

(b)    in relation to each person who voted as proxy, or as such a representative, for the member:

(i) the person ' s name; and

(ii) how many votes the person cast on the resolution as proxy, or as such a representative, for the member; and

(iii) how many of those votes the person cast for the resolution and how many against.

225(5)    
For 7 years after the day when a resolution under this Division is passed, the public company must retain the records it made under this section in relation to the resolution.

225(6)    

An offence based on subsection (3) , (4) or (5) is an offence of strict liability.

Note: For strict liability , see section 6.1 of the Criminal Code .