New South Wales Consolidated Acts

AUSTRALIAN MUTUAL PROVIDENT SOCIETY (DEMUTUALISATION AND RECONSTRUCTION) ACT 1997 - SECT 5

5 Irregularities concerning conversion resolutions

(1) A conversion resolution is not invalidated because of an accidental omission to comply with, or the non-receipt by any member or members of any documents referred to in, section 4 (1) (c), (d) or (e).

(2) A conversion resolution is not invalidated because of any procedural irregularity unless, on application made under this section, the Supreme Court is of the opinion:

(a) that the irregularity was not, or was not the result of, an accidental omission or non-receipt referred to in subsection (1), and

(b) that the irregularity has caused or may cause substantial injustice that could not be remedied by any order of the Court under section 16,

and by order declares the conversion resolution to be invalid.

(3) The Attorney General or no fewer than 200 persons who were members of AMP eligible to vote at the meeting at which the conversion resolution was passed may make an application to the Supreme Court in accordance with this section for such an order.

(4) Such an application cannot be made to the Supreme Court after the expiry of one month commencing with the date of the passing of the conversion resolution.

(5) In this section:

(a) a reference to a procedural irregularity includes a reference to:

(i) any defect, irregularity or deficiency of notice or time, and

(ii) any non-compliance with section 4 (1) (c), (d) or (e), and

(iii) any miscalculation of voting entitlements, and

(b) a reference to a conversion resolution includes a reference to a purported conversion resolution.