Commonwealth Numbered Acts
[Search this Act]
CORPORATIONS ACT 2001 - SECT 170
Register of option holders and copies of options
(1) The register of option holders must contain the following
information about each holder of options over unissued shares in the company
or unissued interests in the scheme:
- the option holder's name and
- the date on which the entry of the option holder's name in the register is
- the date of grant of the options;
- the number and description of the shares or interests over which the
options were granted;
- the period during which the options may be exercised; or
- the time at which the options may be exercised;
- any event that must happen before the options can be exercised;
- any consideration for the grant of the options;
- any consideration for the exercise of the options or the method by which
that consideration is to be determined.
Because it is a register of the holders of options that are still exercisable,
the register must be updated whenever options are exercised or expire.
(2) Information about the grant of an option must be entered in the register
within 14 days after the grant of the option.
Copies of options documents
(3) The company or scheme must keep with the register a copy of every document
that grants an option over unissued shares or interests unless the option has
been granted official quotation by a securities exchange.
(4) The company or scheme must change the register to reflect the transfer of
an option only if the person transferring the option gives the company or
scheme written notice of the transfer.
(5) A failure to comply with this section in relation to an option does not
affect the option itself.
AustLII: Copyright Policy