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CORPORATIONS ACT 2001 - SECT 249L Contents of notice of meetings of members

CORPORATIONS ACT 2001 - SECT 249L

Contents of notice of meetings of members

  (1)   A notice of a meeting of a company's members must:

  (a)   set out:

  (i)   if there is only one location at which the members who are entitled to physically attend the meeting may do so--the date, time and place for the meeting; and

  (ii)   if there are 2 or more locations at which the members who are entitled to physically attend the meeting may do so--the date and time for the meeting at each location, and the main location for the meeting; and

  (iii)   if virtual meeting technology is to be used in holding the meeting--sufficient information to allow the members to participate in the meeting by means of the technology; and

  (b)   state the general nature of the meeting's business; and

  (c)   if a special resolution is to be proposed at the meeting--set out an intention to propose the special resolution and state the resolution; and

  (d)   if a member is entitled to appoint a proxy--contain a statement setting out the following information:

  (i)   that the member has a right to appoint a proxy;

  (ii)   whether or not the proxy needs to be a member of the company;

  (iii)   that a member who is entitled to cast 2 or more votes may appoint 2 proxies and may specify the proportion or number of votes each proxy is appointed to exercise.

Note:   There may be other requirements for disclosure to members.

  (2)   The notice of the AGM of a listed company must also:

  (a)   inform members that the resolution referred to in subsection   250R(2) (resolution on remuneration report) will be put at the AGM; and

  (b)   if at the previous AGM at least 25% of the votes cast on a resolution that the remuneration report be adopted were against adoption of the report (but the same was not the case at the AGM before that):

  (i)   explain the circumstances in which subsection   250V(1) would apply; and

  (ii)   inform members that the resolution described in subsection   250V(1) as the spill resolution will be put at the AGM if that subsection applies.

Note:   Subsection   250R(2) requires a resolution to adopt a remuneration report for a listed company to be put to the vote at the company's AGM.

  (3)   The information included in the notice of meeting must be worded and presented in a clear, concise and effective manner.

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