CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 2C - REGISTERS
History
Chapter 2C inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
SECTION 170
REGISTER OF OPTION HOLDERS AND COPIES OF OPTIONS DOCUMENTS
170(1)
[Information to be contained in register]
The register of option holders must contain the following information about each holder of options over unissued shares in the company or unissued interests in the scheme:
(a)
the option holder's name and address
(b)
the date on which the entry of the option holder's name in the register is made
(c)
the date of grant of the options
(d)
the number and description of the shares or interests over which the options were granted
(e)
either:
(i) the period during which the options may be exercised; or
(ii) the time at which the options may be exercised
(f)
any event that must happen before the options can be exercised
(g)
any consideration for the grant of the options
(h)
any consideration for the exercise of the options or the method by which that consideration is to be determined.
Because it is a register of the holders of options that are still exercisable, the register must be updated whenever options are exercised or expire.
History
S 170(1) amended by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
S 170(1) renumbered from s 216C(1) by No 61 of 1998, Sch 3 (effective 1 July 1998).
170(2)
[Time limits]
Information about the grant of an option must be entered in the register within 14 days after the grant of the option.
History
S 170(2) renumbered from s 216C(2) by No 61 of 1998, Sch 3 (effective 1 July 1998).
170(3)
Copies of options documents.
The company or scheme must keep with the register a copy of every document that grants an option over unissued shares or interests unless the option has been granted official quotation by a securities exchange.
History
S 170(3) amended by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
S 170(3) renumbered from s 216C(3) by No 61 of 1998, Sch 3 (effective 1 July 1998).
170(4)
[Written notice]
The company or scheme must change the register to reflect the transfer of an option only if the person transferring the option gives the company or scheme written notice of the transfer.
History
S 170(4) substituted by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
170(5)
[Option unaffected by failure to comply]
A failure to comply with this section in relation to an option does not affect the option itself.
History
S 170(5) amended by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
S 170(5) renumbered from s 216C(5) by No 61 of 1998, Sch 3 (effective 1 July 1998).