CORPORATIONS REGULATIONS 1990 (REPEALED)

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

REGULATION 5.6.19   VOTING ON RESOLUTIONS  

5.6.19(1)    
A resolution put to the vote of a meeting must be decided on the voices unless, subject to subregulation (5), a poll is demanded, before or on the declaration of the result of the voices:

(a) by the chairperson; or

(b) by at least 2 persons present in person, by proxy or by attorney and entitled to vote at the meeting; or

(c) by a person present in person, by proxy or by attorney and representing not less than 10% of the total voting rights of all the persons entitled to vote at the meeting; or

(d) in the case of a meeting of members - by a member or members holding shares in the company conferring a right to vote at a meeting, being shares on which the total sum paid up is not less than 10% of the total sum paid up on all the shares conferring that right.

5.6.19(2)    
Unless a poll is demanded, the chairperson must declare that a resolution has been:

(a) carried; or

(b) carried unanimously; or

(c) carried by a particular majority; or

(d) lost;

on the voices.

5.6.19(3)    
A declaration is conclusive evidence of the result to which it refers, without proof of the number or proportion of the votes recorded in favour of or against the resolution, unless a poll is demanded.

5.6.19(4)    
A demand for a poll may be withdrawn.

5.6.19(5)    
A vote taken at a joint meeting of creditors and members of a company must be decided on the voices.

5.6.19(6)    
If a creditor of a company, by contract, surrenders or limits all or some of his or her rights to vote at a meeting of creditors, then the creditor must not vote except in accordance with the contract and any vote which is not in accordance with the contract will not be counted.