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

26   Section 252P

Repeal the section, substitute:

252P Accessibility of meetings of members

(1) A meeting of a registered scheme's members must be held:

(a) at a reasonable time; and

(b) if any of the registered scheme's members is entitled to physically attend the meeting - at a reasonable location or locations; and

(c) if virtual meeting technology is used in holding the meeting - in accordance with section 253Q.

(2) For the purposes of paragraph (1)(a), a meeting is taken to be held at a reasonable time if any of the following applies:

(a) if there is only one location at which the members who are entitled to physically attend the meeting may do so - the meeting is held at a time that is reasonable at the location;

(b) if there are 2 or more locations at which the members who are entitled to physically attend the meeting may do so - the meeting is held at a time that is reasonable at the main location for the meeting as set out in the notice of the meeting;

(c) if the meeting is held using virtual meeting technology - the meeting is held at a time that is reasonable at the place where the meeting is taken to be held under section 253QA.