Corporations Act 2001
If section 257B applies this section to a buy-back, the terms of the buy-back agreement must be approved before it is entered into by a resolution passed at a general meeting of the company, or the agreement must be conditional on such an approval. Information to accompany the notice of meeting 257C(2)
The company must include with the notice of the meeting a statement setting out all information known to the company that is material to the decision how to vote on the resolution. However, the company does not have to disclose information if it would be unreasonable to require the company to do so because the company had previously disclosed the information to its shareholders. Documents to be lodged with the ASIC 257C(3)
Before the notice of the meeting is sent to shareholders, the company must lodge with ASIC a copy of:
(a) the notice of the meeting; and
(b) any document relating to the buy-back that will accompany the notice of the meeting sent to shareholders.
[ CCH Note 1: S 257C(3) will be amended by No 69 of 2020, s 3, Sch 1 and [ 578], by substituting " Registrar " for " ASIC " in the heading and " the Registrar " for " ASIC " , (effective 22 June 2022 or a day or days to be fixed by Proclamation).]
[ CCH Note 2: S 257C(4) will be inserted by No 69 of 2020, s 3, Sch 1 [ 579] (effective 22 June 2022 or a day or days to be fixed by Proclamation). S 257C(4) will read:
The lodgement must meet any requirements of the data standards.]
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