Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p88
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 88/175)
Character Range: 393896–396637

party to comply with a Native Title legislation obligation.

287‑15  Court order
  Member approval is not needed to give a financial benefit under an order of a court.

Division 290—Procedure for obtaining member approval

290‑1  Resolution may specify matters by class or kind
  A resolution under this Division may specify anything either in particular or by reference to class or kind.

290‑5  Corporation must lodge material that will be put to members with the Registrar
 (1) At least 14 days before the notice convening the relevant meeting is given, the Aboriginal and Torres Strait Islander corporation must lodge:
 (a) a proposed notice of meeting setting out the text of the proposed resolution; and
 (b) a proposed explanatory statement satisfying section 290‑10; and
 (c) any other document that is proposed to accompany the notice convening the meeting and that relates to the proposed resolution; and
 (d) any other document that any of the following proposes to give to members of the corporation before or at the meeting:
 (i) the corporation;
 (ii) a related party of the corporation to whom the proposed resolution would permit a financial benefit to be given;
 (iii) an associate of the corporation or of such a related party;
  and can reasonably be expected to be material to a member in deciding how to vote on the proposed resolution.
Penalty: 5 penalty units.
 (2) An offence against subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
 (3) If, when the notice convening the meeting is given, the Registrar:
 (a) has approved in writing a period of less than 14 days for the purposes of subsection (1); and
 (b) has not revoked the approval by written notice to the corporation;
subsection (1) applies as if the reference to 14 days were a reference to the approved period.
 (4) An approval under subsection (3) is not a legislative instrument.
 (5) The Registrar may give and revoke approvals for the purposes of subsection (3).

290‑10  Requirements for explanatory statement to members
 (1) The proposed explanatory statement lodged under section 290‑5 must be in writing and set out:
 (a) the related parties to whom the proposed resolution would permit financial benefits to be given; and
 (b) the nature of the financial benefits; and
 (c) in relation to each director of the corporation:
 (i) if the director wanted to make a recommendation to members about the proposed resolution—the recommendation and his or her reasons for it; or
 (ii) if not—why not; or
 (iii) if the director was not available to consider the proposed resolution—why not; and
 (d) in relation to each such director:
 (i) whether the director had an interest in the outcome