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 2E - RELATED PARTY TRANSACTIONS
History
Chapter 2E substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).
PART 2E.1 - MEMBER APPROVAL NEEDED FOR RELATED PARTY BENEFIT
History
Part 2E.1 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).
Division 2 - Exceptions to the requirement for member approval
SECTION 210
ARM'S LENGTH TERMS
210
Member approval is not needed to give a financial benefit on terms that:
(a)
would be reasonable in the circumstances if the public company or entity and the related party were dealing at arm's length; or
(b)
are less favourable to the related party than the terms referred to in paragraph (a).
History
S 210 inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
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