Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p13
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 13/16)
Character Range: 145940–148700

given to members of the public company before or at the meeting by:

       (i) the public company; or

         (ii) a related party of the public company to whom the proposed resolution would permit a financial benefit to be given; or

         (iii) an associate of the public company or of such a related party; and

     (c) can reasonably be expected to have been material to a member in deciding how to vote on the proposed resolution;

must be the same, in all material respects, as a document lodged under paragraph 243U(1)(d).

Proposed resolution cannot be varied

"243ZA. The resolution must be the same as the proposed resolution set out in the proposed notice lodged under section 243U.

Voting on the resolution

"243ZB.(1) If any votes on the resolution are cast in contravention of subsection 243ZF(1), it must be the case that the resolution would still be passed even if those votes were disregarded.

   Note: Section 243ZF prohibits voting by or on behalf of related parties to whom a proposed resolution would permit financial benefits to be given.

"(2) If a poll was duly demanded on the question that the resolution be passed, subsections (3) and (4) apply in relation to voting on the poll.

"(3) In relation to each member of the public company who voted on the resolution in person, the public company must record in writing:

  (a)     the member's name; and

    (b)     how many votes the member cast for the resolution and how many against.

"(4) In relation to each member of the public company who voted on the resolution by proxy, or by a representative authorised under subsection 249(3), the public company must record in writing:

  (a) the member's name; and

      (b) in relation to each person who voted as proxy, or as such a representative, for the member:

       (i) the person's name; and

          (ii) how many votes the person cast on the resolution as proxy, or as such a representative, for the member; and

         (iii) how many of those votes the person cast for the resolution and how many against.

Notice of resolution to be lodged

"243ZC. Within 14 days after the resolution is passed, the public company must lodge a notice setting out the text of the resolution.

Declaration by Court of substantial compliance

"243ZD.(1) The Court may declare that the conditions prescribed by this Subdivision have been satisfied if it finds that they have been substantially satisfied.

"(2) A declaration may be made only on the application of an interested person.

"Division 6—Enforcement

Consequences of giving financial benefit when not permitted

  "243ZE.(1) This section applies if:

     (a)     a related party of a public company receives a financial benefit from the public company, or from a