THE CORPORATIONS LAW

CHAPTER 2G - MEETINGS

PART 2G.4 - MEETINGS OF MEMBERS OF REGISTERED MANAGED INVESTMENT SCHEMES

Division 6 - Voting at meetings of members

SECTION 253J   HOW VOTING IS CARRIED OUT  

253J(1)  [Special or extraordinary resolution]  

A special or extraordinary resolution put to the vote at a meeting of a registered scheme's members must be decided on a poll.

253J(2)  [Other resolutions]  

Any other resolution put to the vote at a meeting of the scheme's members must be decided on a show of hands unless a poll is demanded. The resolution is passed on a poll if it has been passed by at least 50% of the votes cast by members entitled to vote on the resolution.

253J(3)  [Chair's declaration]  

On a show of hands, a declaration by the chair is conclusive evidence of the result. Neither the chair nor the minutes need to state the number or proportion of the votes recorded in favour or against.

Note:

Even though the chair's declaration is conclusive of the voting results, the members present may demand a poll (see paragraph 253L(3)(c)).