Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023 (69 of 2023)

Schedule 1   Modernising business communications

Part 1   Documents and meetings under the Corporations Act 2001

Corporations Act 2001

17   After subsection 110F(4)

Insert:

No current address for sending documents in elected manner

(4A) Subsection (2) does not apply if:

(a) the sender reasonably believes that none of the addresses (including any electronic addresses) for the recipient that are:

(i) known to the sender; and

(ii) where the recipient is covered by subsection (4B) - so known because the recipient is a member or holder of securities mentioned in whichever of paragraphs (4B)(a) to (f) applies;

are a current address for the recipient to be sent the document in a manner that complies with the election; and

(b) the sender sends the document to the recipient in a manner that does not comply with the election, as mentioned in paragraph (1)(b), other than in the manner mentioned in paragraph 110D(1)(e); and

(c) if the document is a report mentioned in section 314A (annual reporting by notified foreign passport funds) - the requirement (if applicable) in paragraph 314A(4)(b) (about sending report in elected language) is satisfied.

Note: A defendant bears an evidential burden in relation to the matter in subsection (4A), see subsection 13.3(3) of the Criminal Code.

(4B) For the purposes of subparagraph (4A)(a)(ii), this subsection covers the recipient if:

(a) the recipient is a member of the sender; or

(b) where the sender is the responsible entity of a registered scheme - the recipient is a member of the scheme; or

(c) where the sender is the corporate director of a CCIV - the recipient is a member of the CCIV; or

(d) where the sender is a disclosing entity mentioned in subsection 111AC(2) - the recipient is a member of the managed investment scheme mentioned in that subsection; or

(e) where the sender is the operator of a notified foreign passport fund - the recipient is an Australian member of the fund; or

(f) where the sender is the bidder under a takeover bid - the recipient is a holder of securities in the target for the bid.