Corporations Act 2001
A company is a mutual entity if:
(a) the company is registered under this Act; and
(b) the company ' s constitution provides that a person has no more than one vote at a general meeting of the company for each capacity in which the person is a member of the company. 51M(2)
To avoid doubt:
(a) the requirement in paragraph (1)(b) does not fail to be satisfied merely because the company ' s constitution provides that:
(i) 2 or more persons may together be joint members of the company; and
(ii) those persons each have one vote at a general meeting of the company; and
(b) that requirement does not fail to be satisfied merely because the company ' s constitution provides that:
(i) a person may vote as proxy or representative at a general meeting of the company; and
(ii) as a result of voting as a proxy or representative, the person may have more than one vote at a general meeting of the company.
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