THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 2E - RELATED PARTY TRANSACTIONS
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Hide history notePART 2E.1 - MEMBER APPROVAL NEEDED FOR RELATED PARTY BENEFIT
Division 3 - Procedure for obtaining member approval
SECTION 220 ASIC MAY COMMENT ON PROPOSED RESOLUTION 220(1) [ASIC comments] Within 14 days after a public company lodges documents under section 218, ASIC may give to the company written comments on those documents (other than comments about whether the proposed resolution is in the company's best interests). 220(2) [Consultation with Exchange] ASIC may consult with the Exchange for the purposes of giving comments to a company that is included in the official list of the Exchange. 220(3) [No limits on consultation] Subsection (2) does not limit the persons with whom ASIC may consult. 220(4) [Retention of comments] ASIC must keep a copy of the written comments it gives to a company under subsection (1), and subsections 1274(2) and (5) apply to the copy as if it were a document lodged with ASIC. 220(5) [Consequences of decision] The fact that ASIC has given particular comments, or has declined to give comments, under subsection (1) does not in any way affect the performance or exercise of any of ASIC's functions and powers.
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