Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 51M

             (1)  A company is a mutual entity if:

                     (a)  the company is registered under this Act; and

                     (b)  the company's constitution provides that a person has no more than one vote at a general meeting of the company for each capacity in which the person is a member of the company.

             (2)  To avoid doubt:

                     (a)  the requirement in paragraph (1)(b) does not fail to be satisfied merely because the company's constitution provides that:

                              (i)  2 or more persons may together be joint members of the company; and

                             (ii)  those persons each have one vote at a general meeting of the company; and

                     (b)  that requirement does not fail to be satisfied merely because the company's constitution provides that:

                              (i)  a person may vote as proxy or representative at a general meeting of the company; and

                             (ii)  as a result of voting as a proxy or representative, the person may have more than one vote at a general meeting of the company.