Corporations Amendment Bill (No.2) 2005 No., 2005

Transcription

1 00-00 The Parliament of the Commonwealth of Australia HOUSE OF REPRESENTATIVES EXPOSURE DRAFT (//00) If you have any comments on this exposure draft, they should be sent, by April 00, to: The General Manager Corporations and Financial Services Division The Treasury Langton Crescent PARKES ACT 00 Telephone 0 0 Fax 0 0 cab00@treasury.gov.au Corporations Amendment Bill (No.) 00 No., 00 (Treasury)

2 A Bill for an Act to amend the Corporations Act 00, and for related purposes

3 Contents Short title... Commencement... Schedule(s)... Schedule Amendments Corporations Act 00 i Corporations Amendment Bill (No.) 00 No., 00

4 T TT T T TT T 0 A Bill for an Act to amend the Corporations Act 00, and for related purposes The Parliament of Australia enacts: Short title Commencement This Act may be cited as the Corporations Amendment Act (No.) 00. () Each provision of this Act specified in column of the table commences, or is taken to have commenced, on the day or at the time specified in column of the table. Corporations Amendment Bill (No.) 00 No., 00

5 T T TT T T TT Commencement information Column Column Column Provision(s) Commencement Date/Details. Sections to and anything in this Act not elsewhere covered by this table. Schedule, items to. Schedule, item 0. Schedule, item. Schedule, items and The day on which this Act receives the Royal Assent The day on which this Act receives the Royal Assent Immediately after the commencement of the provisions covered by item of the table in section of the Designs Act 00. Immediately after the commencement of the Corporations Act 00 The day on which this Act receives the Royal Assent June 00 July 00 Note: This table relates only to the provisions of this Act as originally passed by the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent. 0 Schedule(s) () Column of the table is for additional information that is not part of this Act. This information may be included in any published version of this Act. Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. Corporations Amendment Bill (No.) 00 No., 00

6 TSchedule T AmendmentsT T TT T Schedule Amendments Corporations Act 00 Subsection D() Repeal the subsection, substitute: () The directors of a company must call and arrange to hold a general meeting on the request of members with at least % of the votes that may be cast at the general meeting. Subsection D(A) Repeal the subsection. Paragraph N()(b) Omit 00, substitute 0. After subsection 0() Insert: (A) Without limiting subsection (), if the company gives a member notice of the meeting by sending it to the member by a particular electronic means, the company must give the member notice of the resolution using the same electronic means. Paragraph P()(b) Omit 00, substitute 0. After subsection P() Insert: (A) Without limiting subsection (), if the company gives a member notice of the meeting by sending it to the member by a particular electronic means, the company must give the member a copy of the statement using the same electronic means. Paragraph 0A()(d) Repeal the paragraph, substitute: (d) if the proxy is not the chair the proxy need not vote on a poll, but if the proxy votes on the poll in any capacity, the Corporations Amendment Bill (No.) 00 No., 00

7 AmendmentsT TSchedule T T T TT Subsection 0A() proxy must vote on the poll in the exercise of the proxy appointment and must vote in the way specified in the proxy appointment. Repeal the subsection, substitute: (A) The reference in paragraph ()(d) to the proxy voting on a poll on a resolution in any capacity includes: (a) a reference to the proxy voting on the poll in the exercise of the proxy s own rights as a member of the company; and (b) a reference to the proxy voting on the poll in the exercise of the proxy s rights under another proxy appointment (whether or not that other proxy appointment specifies the way the proxy is to vote on that resolution). () A person is guilty of an offence if: (a) the person contravenes subsection () because of paragraph ()(a); or (b) the person contravenes subsection () because of paragraph ()(b) and the person was aware of his or her appointments as proxy; or (c) the person contravenes subsection () because of paragraph ()(c); or (d) the person contravenes subsection () because of paragraph ()(d) and either: (i) the person agreed to act, or held himself or herself out as being willing to act, as proxy at the meeting and was aware of his or her appointment as proxy; or (ii) the company held the person out, with the person s consent, as being willing to act as proxy at the meeting and the person was aware of his or her appointment as proxy. Subsection 0J(A) Repeal the subsection. 0 Paragraph ()(b) Repeal the paragraph, substitute: (b) the Designs Act 00; or Paragraphs ()(d) and (e) Corporations Amendment Bill (No.) 00 No., 00

8 TSchedule T AmendmentsT T TT T 0 Repeal the paragraphs, substitute: (d) the Patents Act 0; or (e) the Trade Marks Act. Section DA Repeal the section. At the end of Chapter 0 Add: Part 0. Transitional provisions relating to the Corporations Amendment Act (No. ) 00 Application of new subsection D() The amendment made by item of Schedule to the Corporations Amendment Act (No. ) 00 applies only to a request that is made on or after the commencement of those items. Application of changes to sections N, O and P The amendments made by items,, and of Schedule to the Corporations Amendment Act (No. ) 00 apply only to meetings held on or after the commencement of those items. Corporations Amendment Bill (No.) 00 No., 00