Corporations Act 2001
For the purposes of section 200B , the conditions set out in subsections (1B), (2) and (2A) must be satisfied for there to be member approval under this section for the giving of the benefit to the person in connection with the retiree ' s retirement from the office or position.
For the purposes of section 200C , the conditions set out in subsections (1B) and (2) must be satisfied for there to be member approval under this section for the giving of the benefit.
(a) the company; and
(b) if the company is a subsidiary of a listed domestic corporation - the listed corporation; and
(c) if the company has a holding company that:
(i) is a domestic corporation that is not listed; and
the holding company.
(ii) is not itself a subsidiary of a domestic corporation;
(a) if the proposed benefit is a payment:
(i) the amount of the payment; or
(ii) if that amount cannot be ascertained at the time of the disclosure - the manner in which that amount is to be calculated and any matter, event or circumstance that will, or is likely to, affect the calculation of that amount; and
(i) the money value of the proposed benefit; or
(ii) if that value cannot be ascertained at the time of the disclosure - the manner in which that value is to be calculated and any matter, event or circumstance that will, or is likely to, affect the calculation of that value.
These requirements are in addition to, and not in derogation of, any other law that requires disclosure to be made with respect to giving or receiving a benefit.
(a) the retiree; or
(b) an associate of the retiree.
(a) it is cast by a person as a proxy appointed by writing that specifies how the proxy is to vote on the resolution; and
(b) it is not cast on behalf of the retiree or an associate of the retiree.
The regulations may prescribe cases where subsection (2A) does not apply.
(a) the other benefit is given to the person instead of the proposed benefit; and
(b) the amount or money value of the benefit is less than the amount or money value of the proposed benefit.
Member approval under this section does not relieve a director of a body corporate from any duty to the body corporate (whether under section 180 , 181 , 182 , 183 or 184 or otherwise and whether of a fiduciary nature or not) in connection with the giving of the benefit.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.