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.

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Division 3 - Members' rights to put resolutions etc. at meetings of members

SECTION 252L MEMBERS' RESOLUTIONS

252L(1) [ Notice of resolution]

The following members of a registered scheme may give the responsible entity notice of a resolution that they propose to move at a meeting of the scheme's members:

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

(b) at least 100 members who are entitled to vote at a meeting of the scheme's members.

252L(1A) [ Regulations]

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

(a) a particular scheme; or

(b) a particular class of scheme.

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

252L(1B) [ Requirements for resolution]

The resolution must be:

(a) a special resolution; or

(b) an extraordinary resolution; or

(c) a resolution to remove the responsible entity of a scheme that is listed and choose a new responsible entity.

252L(2) [ Form and content of notice]

The notice must:

(a) be in writing; and

(b) set out the wording of the proposed resolution; and

(c) be signed by the members giving the notice.

252L(3) [ Separate copies]

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

252L(4) [ Percentage of votes]

The percentage of the votes that members have is to be worked out as at the midnight before the members give the notice.

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