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CORPORATIONS ACT 2001

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)  [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(1B)  [Requirements for 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(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)  [Percentage of 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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