Commonwealth Consolidated Regulations

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Special resolution may be set aside by Court order

             (1)  Within 28 days after the passing of a special resolution approving an application for a change in the State or Territory in this jurisdiction in which a company is taken to be registered, a member, or members, of the company having at least 10% of the votes capable of being cast on the special resolution may apply in writing to the Court to have the resolution set aside.

             (2)  A member may, with the written consent of other members mentioned in subregulation (1), apply on their behalf to the Court under that subregulation.

             (3)  The Court may order the special resolution to be set aside if the Court is satisfied that it would unfairly prejudice the applicant or applicants if the State or Territory in which the company is taken to be registered were changed in accordance with the resolution.

             (4)  The company must give ASIC a copy of the Court order within 14 days after the day on which it is made.

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