Australian Capital Territory Numbered Regulations

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CORPORATIONS RULES 2001 (2001 NO 22) - REG 29

Order for meetings to identify proposed scheme

    (1)     An order under the Act, section 411 (1) or (1A) ordering a meeting or meetings in relation to a proposed compromise or arrangement must set out in a schedule, or otherwise identify, a copy of the proposed compromise or arrangement.

    (2)     Unless the court otherwise orders, a meeting of members ordered under the Act, section 411 must be convened, held and conducted in accordance with—

        (a)     the provisions of the Act, part 2G.2 that apply to the members of a company; and

        (b)     the provisions of the plaintiff's constitution that apply in relation to meetings of members and are not inconsistent with the Act, part 2G.2.

    (3)     Unless the court otherwise orders, a meeting of a class of holders of convertible securities ordered under the Act, section 411 must be convened, held and conducted as if—

        (a)     the holders were a separate class of members; and

        (b)     the meeting were a meeting of members convened, held and conducted under subrule (2).

    (4)     However, subrule (3) only applies to a meeting of a class of holders of convertible securities to the extent that the subrule is not inconsistent with the applicable provisions of the instrument under which the securities were issued.



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