THE CORPORATIONS LAW

CHAPTER 2G - MEETINGS

PART 2G.2 - MEETINGS OF MEMBERS OF COMPANIES

Division 2 - Who may call meetings of members

SECTION 249D   CALLING OF GENERAL MEETING BY DIRECTORS WHEN REQUESTED BY MEMBERS  

249D(1)  [Directors must call meetings]  

The directors of a company must call and arrange to hold a general meeting on the request of:

(a)  members with at least 5% of the votes that may be cast at the general meeting; or

(b)  at least 100 members who are entitled to vote at the general meeting.

249D(1A)  [Subject to regulations]  

The regulations may prescribe a different number of members for the purposes of the application of paragraph (1)(b) to:

(a)  a particular company; or

(b)  a particular class of company.

Without limiting this, the regulations may specify the number as a percentage of the total number of members of the company.

249D(2)  [Request]  

The request must:

(a)  be in writing; and

(b)  state any resolution to be proposed at the meeting; and

(c)  be signed by the members making the request; and

(d)  be given to the company.

249D(3)  [More than one copy]  

Separate copies of a document setting out the request may be used for signing by members if the wording of the request is identical in each copy.

249D(4)  [Percentage of votes]  

The percentage of votes that members have is to be worked out as at the midnight before the request is given to the company.

249D(5)  [Time for meeting]  

The directors must call the meeting within 21 days after the request is given to the company. The meeting is to be held not later than 2 months after the request is given to the company.