Commonwealth Consolidated Acts

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Exceptional circumstances--virtual meetings

  (1)   An entity may hold a meeting of its members, using virtual meeting technology only (even if this is not required or permitted by the entity's constitution expressly), if:

  (a)   the entity is specified in a determination under subsection   (2); or

  (b)   the entity is in a class of entities specified in a determination under subsection   (2).

  (2)   ASIC may make a determination specifying an entity, or a class of entities, if ASIC considers that it may be unreasonable to expect the specified entity, or entities in the specified class, to hold meetings wholly or partially at one or more physical venues because of a situation that is beyond the control of the entity, or the entities in the class.

  (3)   The determination is:

  (a)   a notifiable instrument, if it specifies an entity; or

  (b)   a legislative instrument, if it specifies a class of entities.

  (4)   The determination may be subject to specified conditions applying to the specified entity, or to entities in the specified class. An entity to which a condition specified in the determination applies must comply with the condition. The Court may order the entity to comply with the condition in a specified way.

  (5)   Unless revoked earlier, the determination is repealed at the end of 12 months after the day on which it commences.

  (6)   A reference in this section to an entity is a reference to any of the following:

  (a)   a company;

  (b)   a registered scheme.


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