Corporations Act 2001

CHAPTER 2G - MEETINGS  

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

Note: Section 1228A applies a modified version of this Part in relation to a CCIV. Section 1228B applies a modified version of this Part in relation to a sub-fund of a CCIV.

Division 5 - Proxies and body corporate representatives  

SECTION 252Y   APPOINTING A PROXY  

252Y(1)   [ When proxy appointment valid]  

An appointment of a proxy is valid if it is signed by the member of the registered scheme making the appointment and contains the following information:

(a) the member's name and address;

(b) the scheme's name;

(c) the proxy's name or the name of the office held by the proxy;

(d) the meetings at which the appointment may be used.

252Y(2)   An appointment may be a standing one.  

A registered scheme's constitution may provide that an appointment is valid even if it contains only some of the information required by subsection (1).

252Y(3)   [ Undated appointment]  

An undated appointment is taken to have been dated on the day it is given to the responsible entity.

252Y(4)   [ Specifying vote]  

An appointment may specify the way the proxy is to vote on a particular resolution. If it does:

(a) the proxy need not vote on a show of hands, but if the proxy does so, the proxy must vote that way; and

(b) if the proxy has 2 or more appointments that specify different ways to vote on the resolution - the proxy must not vote on a show of hands; and

(c) if the proxy is the chair - the proxy must vote on a poll, and must vote that way; and

(d) if the proxy is not the chair - the proxy need not vote on a poll, but if the proxy does so, the proxy must vote that way.

If a proxy is also a member, this subsection does not affect the way that the person can cast any votes they hold as a member.

Note: The scheme's constitution may provide that a proxy is not entitled to vote on a show of hands (see subsection 252W(2)).

252Y(5)   [ Offence]  

A person who contravenes subsection (4) is guilty of an offence, but only if their appointment as a proxy resulted from the responsible entity sending to members:

(a) a list of persons willing to act as proxies; or

(b) a proxy appointment form holding the person out as being willing to act as a proxy.

252Y(5A)   [ Strict liability offence]  

An offence based on subsection (5) is an offence of strict liability.

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

252Y(6)   [ Witnessing appointment]  

An appointment does not have to be witnessed.

252Y(7)   [ Later appointment]  

A later appointment revokes an earlier one if both appointments could not be validly exercised at the meeting.