THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.13 - TITLE TO, AND TRANSFER OF, SECURITIES

Division 3 - Transfer of marketable securities and marketable rights

Subdivision C - SCH-regulated transfers

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SECTION 1109N   DETERMINATION OF WHO HOLDS QUOTED SECURITIES FOR THE PURPOSES OF A MEETING  

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1109N(1)  [Meeting of holders of securities]  

This section applies to a meeting of:

(a)  the holders of securities of a body corporate, provided some or all of the securities are quoted securities; or

(b)  the holders of a class of securities of a body corporate, provided some or all of the securities in that class are quoted securities.

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1109N(2)  [Convener may set time for ``snapshot'' of holders]  

The convener of the meeting may determine that:

(a)  if paragraph (1)(a) applies - all the securities of the body corporate that are quoted securities at a specified time before the meeting; or

(b)  if paragraph (1)(b) applies - all the securities of the body corporate in the relevant class that are quoted securites at a specified time before the meeting;

are taken, for the purposes of the meeting, to be held by the persons who held them at the specified time.

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1109N(3)  [``Snapshot'' within 48 hours of meeting]  

The specified time must not be more than 48 hours before the meeting.

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1109N(4)  [Application of SCH business rules to ``snapshot'' time]  

Subject to subsection (3), the specified time must satisfy any applicable requirements of the SCH business rules.

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1109N(5)  [Application of SCH business rules to determination of ``snapshot'' time]  

The determination must be made in accordance with any applicable requirements of the SCH business rules as to the way in which it must be made.

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1109N(6)  [``Snapshot'' time to be determined before notice of meeting]  

The determination must be made before notice of the meeting is given.

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1109N(7)  [``Snapshot'' time to be included in notice of meeting]  

Particulars of the determination must be included in the notice of the meeting, but a failure to do so does not invalidate the determination.

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1109N(8)  [Effect of determination of ``snapshot'' time]  

The determination has effect accordingly despite anything in:

(a)  this Law or the regulations; and

(b)  any other laws (written or unwritten) that apply to the meeting; and

(c)  any documents (for example, the body corporate's constitution or any relevant trust deed) that apply to the meeting.

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