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CORPORATIONS ACT 2001

CHAPTER 2C - REGISTERS  

PART 2C.1 - REGISTERS GENERALLY    View history reference

SECTION 169  REGISTER OF MEMBERS  

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169(1)  General requirements.  


The register of members must contain the following information about each member:


(a) the member's name and address;


(b) the date on which the entry of the member's name in the register is made.

169(2)  Index to register.  


If the company or scheme has more than 50 members, the company or scheme must include in the register an up-to-date index of members' names. The index must be convenient to use and allow a member's entry in the register to be readily found. A separate index need not be included if the register itself is kept in a form that operates effectively as an index.

169(3)  Companies with share capital.  


If the company has a share capital, the register must also show:


(a) the date on which every allotment of shares takes place; and


(b) the number of shares in each allotment; and


(c) the shares held by each member; and


(d) the class of shares; and


(e) the share numbers (if any), or share certificate numbers (if any), of the shares; and


(ea) the amount paid on the shares; and
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(eb) whether or not the shares are fully paid; and
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(f) the amount unpaid on the shares (if any).

Note 1: Transfers of shares are entered in the register under section 1071D. Section 1072E deals with the registration of trustees etc. on the death, incapacity or bankruptcy of the shareholder.

Note 2: For the treatment of joint holders see subsection (8).

169(4)  [Amount unpaid on shares: par value of shares recorded]  


The register does not have to show the amount unpaid on the shares (see paragraph (1)(f)) if:


(a) all of the company's shares were issued before 1 July 1998; and


(b) the register continues to show the par values of the shares as they were immediately before 1 July 1998.

169(5)  [Amount unpaid on shares: company not listed]  


The register does not have to show the amount unpaid on the shares (see paragraph (1)(f)) if:


(a) all of the company's shares were issued before 1 July 1998; and


(b) the company is not a listed company.

169(5A)  Non-beneficial ownership - companies other than listed companies.  


The register of a company that:


(a) has a share capital; and


(b) is neither a listed company (within the meaning of section 603) nor a company covered by an order under section 707;

must indicate any shares that a member does not hold beneficially.

Note: See also section 1072H (in particular, subsection 1072H(8) which contains relevant presumptions about beneficial ownership).

[CCH Note: The references to ``section 603'' and ``section 707'' are legislative oversights. The references should be to ``section 671A'' and definition provisions within the Act.]

169(6)  [Determining beneficial and non-beneficial ownership]  

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In deciding for the purposes of subsection (5A) whether a member holds shares beneficially or non-beneficially, the company is to have regard only to information in notices given to the company under section 1072H, 672B or 672C.

169(6A)  Registered schemes.  


The register of a registered scheme must also show:


(a) the date on which every issue of interests takes place; and


(b) the number of interests in each issue; and


(c) the interests held by each member; and


(d) the class of interests; and


(e) the amount paid, or agreed to be considered as paid, on the interests.

169(7)  Former members.  


A register of members must also show:


(a) the name and details of each person who stopped being a member of the company or scheme within the last 7 years; and


(b) the date on which the person stopped being a member.

The company or scheme may keep these entries separately from the rest of the register.

169(8)  Joint holders.  


For the purposes of this section:


(a) 2 or more persons who jointly hold shares in the company or interests in the scheme are taken to be a single member of the company or scheme in relation to those shares or interests; and


(b) 2 or more persons who have given a guarantee jointly are taken to be a single member of the company.

They may also be members of the company or scheme because of shares or interests that they hold, or a guarantee that they have given, in their own right or jointly with others.

 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
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