Document ID: chunk:federal_register_of_legislation:F2024C01050:reg:6a:p1
Version: federal_register_of_legislation:F2024C01050
Segment Type: reg
Provision Reference: reg 6A (pt 1/11)
Character Range: 11089–13971

6A  Public companies under external administration: AGMs

        (1) A public company that does not have to comply with Part 2M.3 of the Act because of subsection 8(1) or 8(2) of this instrument does not have to comply with the requirement under section 250N of the Act to hold an AGM:

           (a) at least once in each calendar year and within 5 months after the end of its financial year; or

           (b) in relation to any earlier financial year of the company, but only to the extent that section of the Act would have imposed, but for this paragraph (b), a continuing obligation on the company on or after the appointment of a relevant external administrator;

       where, but for this subsection, the company would otherwise be required to hold an AGM during the deferral period.

           This subsection (1) applies until the last day of the deferral period.

        (2) A company relying on the exemption in subsection (1) must:

           (a) hold an AGM within 2 months after the end of the deferral period; and

           (b) lay before that AGM all outstanding financial reports deferred because of subsection 8(1) or 8(2) of this instrument.

        Conditions

        (3) Before the end of the period within which the company would, but for subsection (1), otherwise be required to hold its next AGM under section 250N after the start of the deferral period, the company must:

           (a) arrange for a notice of the company's intention to rely on section 6A of this instrument to be published:

               (i) both:

                  (A) in a prominent place on the company's website (if any); and

                  (B) in a place that is readily accessible on a website (if any) maintained by the relevant external administrator or any external administrator appointed after the relevant external administrator; and

               (ii) if the company is listed on a prescribed financial market––on a website maintained by the operator of the financial market.

        (4) The company must have adequate arrangements in place during the deferral period to answer, within a reasonable period of time and without charge, any reasonable questions asked by a member of the company about:

           (a) the external administration of the company; and

           (b) the company's obligations to hold any AGMs not held during the deferral period because of subsection (1).

        Exclusion

        (5) This section does not apply to a company in relation to a financial year or half-year, if ASIC has given written notice to the company, stating that the company is excluded from relying on the relief in subsection 6A(1) of this instrument, and ASIC has not withdrawn the notice.

7 Schemes being wound up

      (1)   A responsible entity of a registered scheme being wound up does not have to comply with Part 2M.3