Corporations Regulations 2001

CHAPTER 12 - FINANCIAL SECTOR REFORM  

PART 12.8 - SHARES IN CERTAIN BODIES CORPORATE  

Division 2 - Member shares  

REGULATION 12.8.06   REGISTERS OF MEMBERS  

12.8.06(1)   [ Modification]  

For clause 38 of Schedule 4 to the Act, the Act is modified in accordance with this regulation.

12.8.06(2)   [ Member shares]  

The register of members that is mentioned in subsection 169(1) of the Act may have a separate part for members of the body corporate who hold member shares.

12.8.06(3)   [ Right to inspect]  

Section 173 of the Act is modified in relation to the body corporate by inserting after subsection 173(1):

(1AA) However, a body corporate mentioned in regulation 12.8.02 of the Corporations Regulations may, before allowing a person to inspect the part of the register for members of the body corporate who hold member shares, require the person to agree in writing with the body that the person will only:

(a) divulge information obtained by the person from inspecting the register to a person who is, or to persons who are, specified in the agreement; or

(b) use information obtained by the person from inspecting the register for a purpose that is, or purposes that are, specified in the agreement.

(1AB) Also, the body corporate mentioned in regulation 12.8.02 of the Corporations Regulations may refuse to allow a person to inspect the part of the register for members of the body who hold member shares if:

(a) the body is not satisfied that the person is a member of the body who intends to call a meeting of members, or of particular members, of the body; or

(b) the body is not satisfied that the person proposes to inspect the register for a purpose that is approved in writing by ASIC:

(i) on its own initiative; or

(ii) on the written application of the person or of another person; or

(c) the body is not satisfied that allowing the person to inspect that part of the register is in the interests of the members as a whole.

12.8.06(4)   [ Right to obtain copies]  

Section 173 of the Act is modified in relation to the body corporate by inserting after subsection 173 (3):

(3A) However, a body corporate mentioned in regulation 12.8.02 of the Corporations Regulations may, before giving a person a copy of the part of the register for members of the body corporate who hold member shares, require the person to agree in writing with the body that the person will only:

(a) give the original copy, or a copy of that original, to a person who is, or to persons who are, specified in the agreement; or

(b) use information obtained from that part of the register for a purpose that is, or purposes that are, specified in the agreement.

(3B) Also, the body corporate mentioned in regulation 12.8.02 of the Corporations Regulations may refuse to give a person a copy of the part of the register for members of the body who hold member shares if the body is not satisfied that:

(a) the person is a member of the body who intends to call a meeting of members, or of particular members, of the body; or

(b) the person proposes to use information obtained from that part of the register for a purpose that is approved in writing by ASIC:

(i) on its own initiative; or

(ii) on the written application of the person or of another person; or

(c) giving the person the copy is in the interests of the members as a whole.

Note: If a body corporate has failed to give a person a copy of the part of the register for members of the body who hold member shares, the body corporate must, in certain circumstances, arrange for the members to be contacted, or for material to be sent to the members, on the person ' s behalf - see regulation 2C.3.01 of the Corporation Regulations.

12.8.06(5)   [ References to member shares]  

In subregulations (3) and (4), a reference to the part of the register for members of a body corporate who hold member shares includes a reference to:

(a) the register of members of the body corporate that is a company limited by guarantee; and

(b) the register of members of the body corporate limited by shares and guarantee who do not hold shares in the body.