Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 201Q

Requirements for explanatory statement to members

    The statement accompanying the notice of a general meeting stating an intention to propose the board limit resolution must be in writing and set out clearly, concisely and effectively:

  (a)   the directors' reasons for proposing the board limit resolution; and

  (b)   all other information that:

  (i)   is reasonably required by members in order to decide whether or not it is in the company's interests to pass the proposed board limit resolution; and

  (ii)   is known to the company or to any of its directors.

Note:   Section   1309 creates offences where false and misleading material relating to a corporation's affairs is made available or furnished to members.


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