Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.11.38

Determination of who holds Division 4 financial products in class of Division 4 financial products for the purposes of meeting

             (1)  This regulation applies to a meeting of the holders of a class of securities of a body corporate if some or all of the securities in that class are Division 4 financial products.

             (2)  The convener of the meeting may determine that all the securities of the body corporate in the relevant class that are Division 4 financial products at a specified time before the meeting are taken, for the purposes of the meeting, to be held by the persons who held them at the specified time.

             (3)  The specified time:

                     (a)  must satisfy any applicable requirements of the ASTC operating rules; but

                     (b)  in any case, must not be more than 48 hours before the meeting.

             (4)  The convenor must make a determination:

                     (a)  in accordance with any applicable requirements of the ASTC operating rules as to the way in which it must be made; but

                     (b)  in any case, before notice of the meeting is given.

             (5)  The convenor must include particulars of the determination in the notice of the meeting.

             (6)  However, a failure to include particulars of the determination in the notice of the meeting does not invalidate the determination.

             (7)  The convenor's determination has effect accordingly despite anything in:

                     (a)  the Act; and

                     (b)  these Regulations; and

                     (c)  any other law (written or unwritten) that applies to the meeting; and

                     (d)  any document that applies to the meeting (for example, the body corporate's constitution or a relevant trust deed).



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