THE CORPORATIONS LAW

CHAPTER 2G - MEETINGS

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

Division 3 - Members' rights to put resolutions etc at meetings of members

SECTION 252L   MEMBERS' RESOLUTIONS  

252L(1)  (Notice of resolution)  

The following members of a registered scheme may give the responsible entity notice of a resolution that they propose to move at a meeting of the scheme's members:

(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 meeting of the scheme's members.

*252L(1A)  [Resolution]  

The resolution must be:

(a)  a special resolution; or

(b)  an extraordinary resolution; or

(c)  a resolution to remove the responsible entity of a scheme that is listed and choose a new responsible entity.

*252L(1A)  [Regulations]  

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

(a)  a particular scheme; or

(b)  a particular class of scheme.

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

252L(2)  [Form and content of notice]  

The notice must:

(a)  be in writing; and

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

(c)  be signed by the members giving the notice.

252L(3)  [Separate copies]  

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.

252L(4)  [Determining votes]  

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


 

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