Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 251B

Members' access to minutes

             (1)  A company must ensure that the minute books for the meetings of its members and for resolutions of members passed without meetings are open for inspection by members free of charge.

             (2)  A member of a company may ask the company in writing for a copy of:

                     (a)  any minutes of a meeting of the company's members or an extract of the minutes; or

                     (b)  any minutes of a resolution passed by members without a meeting.

             (3)  If the company does not require the member to pay for the copy, the company must send it:

                     (a)  within 14 days after the member asks for it; or

                     (b)  within any longer period that ASIC approves.

             (4)  If the company requires payment for the copy, the company must send it:

                     (a)  within 14 days after the company receives the payment; or

                     (b)  within any longer period that ASIC approves.

The amount of any payment the company requires cannot exceed the prescribed amount.

             (5)  An offence based on subsection (1), (3) or (4) is an offence of strict liability.

Note:          For strict liability , see section 6.1 of the Criminal Code .

Note:       Section 1228A applies a modified version of this Part in relation to a CCIV. Section 1228B applies a modified version of this Part in relation to a sub-fund of a CCIV.



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