Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 215

215. (1) A company shall keep a register of options granted to persons to take
up unissued shares in the company.

(2) The company shall, within 14 days after the grant of an option to take up
unissued shares in the company, enter in the register the following
particulars: (a) the name and address of the holder of the option;

   (b)  the date on which the option was granted;

   (c)  the number and description of the shares in respect of which the
        option was granted;

   (d)  the period during which, the time at which or the occurrence upon the
        happening of which the option may be exercised;

   (e)  the consideration (if any) for the grant of the option;

   (f)  the consideration (if any) for the exercise of the option or the
        manner in which that consideration is to be ascertained or determined;

   (g)  such other particulars as are prescribed.

(3) The register is prima facie evidence of any matters inserted in the
register as required or authorised by this Act.

(4) The register shall be open for inspection:

   (a)  by any member of the company-without charge; and

   (b)  by any other person-on payment for each inspection of such amount, not
        exceeding the prescribed amount, as the company requires or, where the
        company does not require the payment of an amount, without charge.

(5) A person may request a company to furnish him with a copy of the register
or any part of the register and, where such a request is made, the company
shall send the copy to that person:

   (a)  if the company requires payment of an amount not exceeding the
        prescribed amount-within 21 days after payment of the amount is
        received by the company or within such longer period as the Commission
        approves; or

   (b)  in a case to which paragraph (a) does not apply-within 21 days after
        the request is made or within such longer period as the Commission
        approves.

(6) A company shall keep, at the place where the register referred to in
subsection (1) is kept, a copy of every instrument by which an option to take
up unissued shares in the company is granted and, for the purposes of
subsections (4) and (5), those copies shall be deemed to be part of the
register referred to in subsection (1).

(7) Notwithstanding subsection (6), a company is not required to keep a copy
of any instrument by which an option has been granted if the option has been
granted official quotation by a securities exchange.

(8) Failure by a company to comply with any of the provisions of this section
in relation to an option does not affect any rights in respect of the option.

(9) If default is made in complying with this section, the company and any
officer of the company who is in default are each guilty of an offence.