Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 249N

Members' resolutions

 
 
(1)
The following members may give a company notice
of a resolution that they propose to move at a general meeting: 
 
 
 
(a)
members with at least 5% of the
votes that may be cast on the resolution; or

(b)
at least 100 members who are entitled to vote at a general
meeting. 

 
 
(1A)
The regulations may prescribe a
different number of members for the purposes of the application of paragraph
(1)(b) to: 
 
 
 
(a)
a
particular company; or

(b)
a particular class of company. 

 
Without limiting this, the regulations may specify the number
as a percentage of the total number of members of the company.
 

(2)
The notice must: 
 
 

(a)
be in writing; and:

(b)
set out the wording of the proposed resolution; and

(c)
be signed by the members proposing to move the resolution.


 
 
(3)
Separate copies of a document setting
out the notice may be used for signing by members if the wording of the notice
is identical in each copy.


(4)
The percentage of votes that members have is to be worked out as
at the midnight before the members give the notice.