Commonwealth Numbered Acts

CORPORATE LAW REFORM ACT 1992 No. 210 of 1992 - SECT 171

171. Section 1301 of the Corporations Law is repealed and the following
section is substituted: Location of books on computers

"1301.(1) This section applies if:

   (a)  a corporation records, otherwise than in writing, matters ('the stored
        matters') this Law requires to be contained in a book; and

   (b)  the record of the stored matters is kept at a place ('the place of
        storage') other than the place ('the place of inspection') where the
        book is, apart from this section, required to be kept; and

   (c)  at the place of inspection means are provided by which the stored
        matters are made available for inspection in written form; and

   (d)  the corporation has lodged a notice:

        (i)    stating that this section is to apply in respect of:

   (a)  except where sub-subparagraph (B) applies - the book; or

   (b)  if the stored matters are only some of the information that is
        required to be contained in the book - the book and matters that are
        of the same kind as the stored matters; and

        (ii)   specifying the situation of the place of storage and the place
               of inspection.

"(2) Subject to subsection (4), the corporation is taken to have complied with
the requirements of this Law as to the location of the book, but only in so
far as the book is required to contain the stored matters.

"(3) Subject to subsection (4), for the purposes of the application of
subsection 1085(3) and section 1300 in relation to the corporation and the
book, the book is taken to be kept at the place of inspection, even though the
record of the stored matters is kept at the place of storage.

"(4) If:

   (a)  the situation of the place of storage or the place of inspection
        changes; and

   (b)  the corporation does not lodge notice of the change within 14 days
        after the change; this section, as it applies to the corporation
        because of the lodging of the notice referred to in paragraph (1)(d),
        ceases to so apply at the end of that period of 14 days.".