Treasury Laws Amendment (2021 Measures No. 1) Act 2021 (82 of 2021)

Schedule 1   Virtual meetings and electronic communication of documents

Part 1   Main amendments

Corporations Act 2001

17   Subsection 249T(3)

Repeal the subsection, substitute:

(3) A meeting of the company's members that does not have a quorum present within 30 minutes after the time for the meeting set out in the notice of meeting is adjourned to a meeting (the resumed meeting ) at a later time.

(3A) The directors may specify:

(a) the date and time of the resumed meeting; and

(b) if any of the company's members is entitled to physically attend the resumed meeting - the location or locations at which the members may do so; and

(c) if virtual meeting technology is to be used in holding the meeting - sufficient information to allow the members to participate in the resumed meeting by means of the technology.

(3B) If the directors do not specify one or more of the things mentioned in subsection (3A):

(a) if the date is not specified - the meeting is adjourned to the same day in the next week; and

(b) if the time is not specified - the meeting is adjourned to the same time; and

(c) if any of the company's members was entitled to physically attend the meeting and the location is not specified - the meeting is adjourned to the same location or locations as were specified for the original meeting; and

(d) if virtual meeting technology was used in holding the meeting and sufficient information to allow members to participate in the resumed meeting by means of the technology is not specified - participation in the resumed meeting by means of the technology must be provided in the same manner as set out in the notice for the original meeting.