Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p92
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 92/175)
Character Range: 403695–406433

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.
Penalty: 5 penalty units.
 (5) For 7 years after the day when a resolution under this Division is passed, the corporation must retain the records it made under this section in relation to the resolution.
Penalty: 5 penalty units.
 (6) An offence against subsection (3), (4) or (5) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.

290‑45  Notice of resolution to be lodged
  The corporation must lodge a notice setting out the text of the resolution within 28 days after the resolution is passed.

290‑50  Declaration by court of substantial compliance
 (1) The Court may declare that the conditions provided for in this Division 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 293—Related parties and financial benefits

293‑1  Related parties

Controlling entities
 (1) An entity that controls an Aboriginal and Torres Strait Islander corporation is a related party of the corporation.

Directors and their spouses
 (2) The following persons are related parties of an Aboriginal and Torres Strait Islander corporation:
 (a) directors of the corporation;
 (b) directors (if any) of an entity that controls the corporation;
 (c) if the corporation is controlled by an entity that is not a body corporate—each of the persons making up the controlling entity;
 (d) spouses of the persons referred to in paragraphs (a), (b) and (c).

Relatives of directors and spouses
 (3) The following relatives of persons referred to in subsection (2) are related parties of the Aboriginal and Torres Strait Islander corporation:
 (a) parents;
 (b) children.

Entities controlled by other related parties
 (4) An entity controlled by a related party referred to in subsection (1), (2) or (3) is a related party of the Aboriginal and Torres Strait Islander corporation unless the entity is also controlled by the corporation.

Related party in previous 6 months
 (5) An entity is a related party of an Aboriginal and Torres Strait Islander corporation at a particular time if the entity was a related party of the corporation of a kind referred to in subsection (1), (2), (3) or (4) at any time within the previous 6 months.

Entity has reasonable grounds to believe it will become related party in future
 (6) An entity is a related party of an Aboriginal and Torres Strait Islander corporation at a particular time if the entity believes or has reasonable grounds to believe that it is likely to become a related