Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 253N

Members' access to minutes

             (1)  The responsible entity of a registered scheme must ensure that the minute books for the meetings of the scheme's members are open for inspection by members free of charge.

             (2)  A member of a registered scheme may ask the responsible entity in writing for a copy of any minutes of a meeting of the scheme's members or an extract of the minutes.

             (3)  If the responsible entity does not require the member to pay for the copy, the responsible entity 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 responsible entity requires payment for the copy, the responsible entity must send it:

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

                     (b)  within any longer period that ASIC approves.

The amount of any payment the responsible entity 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 .



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