CORPORATIONS LAW- SECT 169 Register of members
This legislation has been repealed.
CORPORATIONS LAW- SECT 169
Register of members
- (1)
- General requirements
The register of members must contain the following information about each member:
- (a)
- the member's name and address
- (b)
- the date on which the entry of the member's name in the register is made.
- (2)
- Index to register
If the company or scheme has more than 50 members, the company or scheme must include in the register an up-to-date index of members' names. The index must be convenient to use and allow a member's entry in the register to be readily found. A separate index need not be included if the register itself is kept in a form that operates effectively as an index.
- (3)
- Companies with share capital
If the company has a share capital, the register must also show:
- (a)
- the date on which every allotment of shares takes place; and
- (b)
- the number of shares in each allotment; and
- (c)
- the shares held by each member; and
- (d)
- the class of shares; and
- (e)
- the share numbers (if any), or share certificate numbers (if any), of the shares; and
- (f)
- the amount unpaid on the shares (if any).
- Note 1: Transfers of shares
are entered in the register under section 1092. Section 1091C deals with the
registration of trustees etc. on the death, incapacity or bankruptcy of the
shareholder.
Note 2: For the treatment of joint holders see subsection (8).
- (4)
- The register does not have to show the amount unpaid on the shares (see paragraph (1)(f)) if:
- (a)
- all of the company's shares were issued before Schedule 2 of the Company Law Review Act 1997 commenced; and
- (b)
- the register continues to show the par values of the shares as they were immediately before that commencement.
- (5)
- The register does not have to show the amount unpaid on the shares (see paragraph (1)(f)) if:
- (a)
- all of the company's shares were issued before Schedule 5 of the Company Law Review Act 1998 commenced; and
- (b)
- is not a listed company.
- (5)
- Non-beneficial ownershipcompanies other than listed companies
The register of a company that:
- (a)
- has a share capital; and
- (b)
- is neither a listed company (within the meaning of section 603) nor a company covered by an order under section 707;
must indicate any shares that a member does not hold beneficially.
- Note: See also
section 1096A (in particular, subsection 1096A(9) which contains relevant
presumptions about beneficial ownership).
- (6)
- In deciding for the purposes of subsection (5) whether a member holds shares beneficially or non-beneficially, the company is to have regard only to information in notices given to the company under section 1096A, 672B or 672C.
Registered schemes
- (6A)
- The register of a registered scheme must also show:
- (a)
- the date on which every issue of interests takes place; and
- (b)
- the number of interests in each issue; and
- (c)
- the interests held by each member; and
- (d)
- the class of interests; and
- (e)
- the amount paid, or agreed to be considered as paid, on the interests.
- (7)
- Former members
A register of members must also show:
- (a)
- the name and details of each person who stopped being a member of the company or scheme within the last 7 years; and
- (b)
- the date on which the person stopped being a member.
The company or scheme may keep these entries separately from the rest of the register.
Joint holders
- (8)
- For the purposes of this section:
- (a)
- 2 or more persons who jointly hold shares in the company or interests in the scheme are taken to be a single member of the company or scheme in relation to those shares or interests; and
- (b)
- 2 or more persons who have given a guarantee jointly are taken to be a single member of the company.
They may also be members of the company or scheme because of shares or interests that they hold, or a guarantee that they have given, in their own right or jointly with others.