Document ID: chunk:federal_register_of_legislation:C2011A00042:clause:1_250bd:p2
Version: federal_register_of_legislation:C2011A00042
Segment Type: clause
Provision Reference: sch 1 cl 250BD (pt 2/2)
Character Range: 13310–14395

(2): see subsection 13.3(3) of the Criminal Code.
 (3) ASIC may by writing declare that:
 (a) subsection (1) does not apply to a specified resolution; or
 (b) subsection (1) does not prevent the casting of a vote, on a specified resolution, by or on behalf of a specified entity;
but may do so only if satisfied that the declaration will not cause unfair prejudice to the interests of any member of the company. The declaration has effect accordingly. The declaration is not a legislative instrument.
Note: A defendant bears an evidential burden in relation to the matter in subsection (3): see subsection 13.3(3) of the Criminal Code.
 (4) A vote cast in contravention of subsection (1) is taken not to have been cast. This subsection has effect for the purposes of this Act except subsection (1) and subsections 250R(4) and (7), and section 1311 and Schedule 3 so far as they relate to any of those subsections.
Note: This means the vote is not counted in working out a percentage of votes cast or whether the resolution is passed, and does not affect the validity of the resolution.