CORPORATIONS ACT 2001 - SECT 250E How many votes a member has (replaceable rule--see section 135)

CORPORATIONS ACT 2001 - SECT 250E

Company with share capital

  (1)   Subject to any rights or restrictions attached to any class of shares, at a meeting of members of a company with a share capital:

  (a)   on a show of hands, each member has 1 vote; and

  (b)   on a poll, each member has 1 vote for each share they hold.

Note:   Unless otherwise specified in the appointment, a body corporate representative has all the powers that a body corporate has as a member (including the power to vote on a show of hands).

Company without share capital

  (2)   Each member of a company that does not have a share capital has 1 vote, both on a show of hands and a poll.

Chair's casting vote

  (3)   The chair has a casting vote, and also, if they are a member, any vote they have in their capacity as a member.

Note 1:   The chair may be precluded from voting, for example, by a conflict of interest.

Note 2:   For rights to appoint proxies, see section   249X.