Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 220

ASIC may comment on proposed resolution

 
 
(1)
Within 14 days after a public company lodges
documents under section 218, ASIC may give to the company written comments on
those documents (other than comments about whether the proposed resolution is
in the company's best interests).


(2)
ASIC may consult with the Exchange for the purposes of giving
comments to a company that is included in the official list of the
Exchange.


(3)
Subsection (2) does not limit the persons with whom ASIC may
consult.


(4)
ASIC must keep a copy of the written comments it gives to a
company under subsection (1), and subsections 1274(2) and (5) apply to the
copy as if it were a document lodged with ASIC.


(5)
The fact that ASIC has given particular comments, or has declined
to give comments, under subsection (1) does not in any way affect the
performance or exercise of any of ASIC's functions and powers.