澳大利亚公司法volumn1

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iv

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CorporationsAct2001

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CorporationsAct2001

PAGE

lxv

CorporationsAct2001

ActNo.

50of2001asamended

Thiscompilationwaspreparedon3January2013

takingintoaccountamendmentsuptoActNo.

180of2012

Volume1includes: TableofContents

Chapters

1–2J(ss.1–260E)

Thetextofanyofthoseamendmentsnotinforce

onthatdateisappendedintheNotessection

Theoperationofamendmentsthathavebeenincorporatedmaybe

affectedbyapplicationprovisionsthataresetoutintheNotessection

Volume2includes: TableofContents

Chapters

2L–5B(ss.283AA–601DJ)

Volume3includes: TableofContents

Chapters

5C–6D(ss.601EA–742)

Volume4includes: TableofContents

Chapters

7and8(ss.760A–1200U)

Volume5includes: TableofContents

Chapters

9and10(ss.1274–1538)

Schedules

3and4

Note1

TableofActs

ActNotes

TableofAmendments

Notes2–4

TableA

PreparedbytheOfficeofParliamentaryCounsel,Canberra

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CorporationsAct2001

PAGE

iii

STYLEREFShortT

CorporationsAct2001

STYLEREFActno

ActNo.50of2001asamended

PAGE

cdliv

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TIME\@"d/M/yyyyh:mmAM/PM"

3/5/201312:49PM

Contents

TOC\o"1-9"\t"ActHead1,2,ActHead2,2,ActHead3,3,ActHead4,4,ActHead5,5,Schedule,2,ScheduleText,3,NotesSection,6"

Chapter

1—Introductory

1

Part

1.1—Preliminary

1

1 Shorttitle[seeNote1]

1

2 Commencement[seeNote1]

1

3 ConstitutionalbasisforthisAct

1

4 ReferringStates

2

5 GeneralterritorialapplicationofAct

4

5A ApplicationtotheCrown

7

5B ASIChasgeneraladministrationofthisAct

7

5C ApplicationoftheActsInterpretationAct1901

7

Part

1.1A—InteractionbetweenCorporationslegislationandStateandTerritorylaws

9

5D CoverageofPart

9

5E Concurrentoperationintended

9

5F CorporationslegislationdoesnotapplytomattersdeclaredbyStateorTerritorylawtobeanexcludedmatter

10

5G AvoidingdirectinconsistencyarisingbetweentheCorporationslegislationandStateandTerritorylaws

12

5H RegistrationofbodyascompanyonbasisofStateorTerritorylaw

19

5I RegulationsmaymodifyoperationoftheCorporationslegislationtodealwithinteractionbetweenthatlegislationandStateandTerritorylaws

21

Part

1.2—Interpretation

23

Division

1—General

23

6 EffectofthisPart

23

7 Locationofotherinterpretationprovisions

23

9 Dictionary

24

9AA Certainfamilyrelationships

88

9A Meaningofrightsissue

89

9B Meaningofremunerationrecommendation

90

Division

2—Associates

92

10 EffectofDivision

92

11 Associatesofbodiescorporate

92

12 ReferencesinChapters

6to6C,andotherreferencesrelatingtovotingpowerandtakeoversetc.

92

13 ReferencesinChapter

7

94

15 General

94

16 Exclusions

95

17 Associatesofcompositepersonthatcarriesonafinancialservicesbusiness

96

Division

3—Carryingonbusiness

97

18 Carryingonbusiness:otherwisethanforprofit

97

19 Businessesofaparticularkind

97

20 Carryingonabusiness:aloneortogetherwithothers

97

21 CarryingonbusinessinAustraliaoraStateorTerritory

97

Division

5A—Typesofcompany

99

45A Proprietarycompanies

99

45B Smallcompanieslimitedbyguarantee

100

Division

6—Subsidiariesandrelatedbodiescorporate

102

46 Whatisasubsidiary

102

47 Controlofabodycorporate’sboard

102

48 Matterstobedisregarded

103

49 ReferencesinthisDivisiontoasubsidiary

103

50 Relatedbodiescorporate

104

50AAA Associatedentities

104

50AA Control

105

Division

6A—Securityinterests

106

51 MeaningofPPSAsecurityinterest

106

51A Meaningofsecurityinterest

106

51B Meaningofsecuredparty

106

51C Meaningofcirculatingsecurityinterest

107

51D Meaningofpossessorysecurityinterest

107

51E Meaningofsecuredcreditor

107

51F MeaningofPPSAretentionoftitleproperty

108

Division

7—Interpretationofotherexpressions

109

52 Doingacts

109

52A Signing

109

53 Affairsofabodycorporate

109

53AA Businessaffairsofabodycorporate

111

53AB Businessaffairsofanaturalperson

111

53AC Businessaffairsofapartnership

112

53AD Businessaffairsofatrust

112

57 Classesofsharesorinterestsinmanagedinvestmentschemes

113

57A Meaningofcorporation

113

58AA MeaningofcourtandCourt

113

58B DischargeofobligationsunderthisAct

114

59 Debenturesasconsiderationforacquisitionofshares

114

60 Declarationofrelevantrelationships

114

64 Enteringintoatransactioninrelationtosharesorsecurities

116

64A Entities

116

64B Entitiesconnectedwithacorporation

116

65 Eligiblemoneymarketdealer

118

66A Exemptbodies

118

70 Extensionofperiodfordoinganact

118

73A Whenacourtistakentofindapersonguiltyofanoffence

118

75 Inclusioninofficiallist

118

79 Involvementincontraventions

119

80 JervisBayTerritorytakentobepartoftheAustralianCapitalTerritory

119

82 Offersandinvitationstothepublic

119

83 Officers,andotherpersons,indefault

120

86 Possession

120

88A Publicdocumentofabodycorporate

120

88B Qualifiedaccountants

121

89 Qualifiedprivilege

122

90 Receiversandmanagers

122

92 Securities

122

95A Solvencyandinsolvency

124

Division

8—Miscellaneousinterpretationrules

125

100 Addressofregisteredofficeetc.

125

100A Operationofcertainlawsrelatingtoinstrumentsonwhichstampdutyhasnotbeenpaid

125

101 Amountofstockrepresentinganumberofshares

126

102 Applicationstobeinwriting

126

102B InAustraliaorelsewhere,inthisjurisdictionorelsewhereetc.

126

102C InAustralia

126

103 EffectofcertaincontraventionsofthisAct

126

104 Effectofprovisionsempoweringapersontorequireorprohibitconduct

127

105 Calculationoftime

127

106 PerformanceoffunctionsbyCommissiondelegate

127

107 Noticeinrelationtotop20membersofaclass

127

108 Partsofdollartobedisregardedindeterminingmajorityinvalueofcreditorsetc.

128

109 Referencestopersons,thingsandmatters

128

109X Serviceofdocuments

128

Part

1.2A—Disclosingentities

130

Division

1—ObjectofPart

130

111AA ObjectofPart

130

Division

2—Definitions

131

111AB TermsdefinedinDivision

131

111AC Disclosingentity

131

111AD EDsecurities

131

111AE Securitiesofbodyorundertakingthatisincludedinalicensedmarket’sofficiallist

132

111AF Securities(exceptdebenturesandmanagedinvestmentproducts)heldby100ormorepersons

133

111AFA Managedinvestmentproductsheldby100ormorepersons

133

111AG SecuritiesissuedasconsiderationforanacquisitionunderanoffmarkettakeoverbidorPart

5.1compromiseorarrangement

134

111AH Whenapersonholdssecuritiesforthepurposesofsections

111AF,111AFAand111AG

134

111AI Debentures

135

111AJ RegulationsmaydeclaresecuritiesnottobeEDsecurities

135

111AK EDsecuritiesofadisclosingentity

135

111AL Listedorunlisteddisclosingentity

135

111AM QuotedEDsecurities

135

Division

3—Significanceofbeingadisclosingentity

136

111AN Divisioncontainsoutlineofsignificanceofbeingadisclosingentity

136

111ANARequirementsrelatingtoremunerationrecommendationsinrelationtokeymanagementpersonnel

136

111AO Accountingrequirements

136

111AP Continuousdisclosurerequirements

136

111AQ Prospectusrelief

136

111AQAProductDisclosureStatementrelief

136

Division

4—Exemptionsandmodifications

137

111AR Meaningofdisclosingentityprovisions

137

111AS Exemptionsbyregulations

137

111AT ExemptionsbyASIC

137

111AU Enforcingconditionsofexemptions

137

111AV Modificationsbyregulations

138

111AW Exemptionsandmodificationshaveeffect

138

111AX EffectofDivision

138

Part

1.4—Technicalprovisionsaboutaidsforreaders

139

111J Smallbusinessguide

139

Part

1.5—Smallbusinessguide

140

1 Whatregistrationmeans

140

2 Thecompanystructureforsmallbusiness

145

3 Settingupanewcompany

145

4 Continuingobligationsafterthecompanyissetup

148

5 Companydirectorsandcompanysecretaries

150

6 Sharesandshareholders

154

7 Signingcompanydocuments

155

8 Fundingthecompany’soperations

156

9 Returnstoshareholders

156

10 Annualfinancialreportsandaudit

157

11 Disagreementswithinthecompany

159

12 Companiesinfinancialtrouble

160

Part

1.6—InteractionwithAustralianCharitiesandNotforprofitsCommissionAct2012

162

111K BodiescorporateregisteredundertheAustralianCharitiesandNotforprofitsCommissionAct2012

162

111L Provisionsnotapplicabletothebodycorporate

162

111M Memberapproval

163

111N Notices

164

111Q Presumptionstobemadeinrecoveryproceedings

165

Chapter

2A—Registeringacompany

166

Part

2A.1—Whatcompaniescanberegistered

166

112 Typesofcompanies

166

113 Proprietarycompanies

167

114 Minimumof1member

168

115 Restrictionsonsizeofpartnershipsandassociations

168

116 Tradeunionscannotberegistered

169

Part

2A.2—Howacompanyisregistered

170

117 Applyingforregistration

170

118 ASICgivescompanyACN,registerscompanyandissuescertificate

172

119 Companycomesintoexistenceonregistration

173

119A Jurisdictionofincorporationandjurisdictionofregistration

173

120 Members,directorsandcompanysecretaryofacompany

174

121 Registeredoffice

174

122 Expensesincurredinpromotingandsettingupcompany

174

123 Companymayhavecommonseal

175

Chapter

2B—Basicfeaturesofacompany

176

Part

2B.1—Companypowersandhowtheyareexercised

176

124 Legalcapacityandpowersofacompany

176

125 Constitutionmaylimitpowersandsetoutobjects

177

126 Agentexercisingacompany’spowertomakecontracts

177

127 Executionofdocuments(includingdeeds)bythecompanyitself

177

Part

2B.2—Assumptionspeopledealingwithcompaniesareentitledtomake

179

128 Entitlementtomakeassumptions

179

129 Assumptionsthatcanbemadeundersection

128

179

130 InformationavailabletothepublicfromASICdoesnotconstituteconstructivenotice

181

Part

2B.3—Contractsbeforeregistration

182

131 Contractsbeforeregistration

182

132 Personmaybereleasedfromliabilitybutisnotentitledtoindemnity

183

133 ThisPartreplacesotherrightsandliabilities

183

Part

2B.4—Replaceablerulesandconstitution

184

134 Internalmanagementofcompanies

184

135 Replaceablerules

184

136 Constitutionofacompany

185

137 Dateofeffectofadoption,modificationorrepealofconstitution

186

138 ASICmaydirectcompanytolodgeconsolidatedconstitution

187

139 Companymustsendcopyofconstitutiontomember

187

140 Effectofconstitutionandreplaceablerules

187

141 Tableofreplaceablerules

188

Part

2B.5—Registeredofficeandplacesofbusiness

190

142 Registeredoffice

190

143 ASICmaychangeaddressofregisteredofficetoadirector’saddress

190

144 Company’snamemustbedisplayedatregisteredofficeetc.

191

145 Openinghoursofregisteredofficeofpubliccompany

191

146 Changeofaddressofprincipalplaceofbusiness

192

146A Contactaddress

192

Part

2B.6—Names

193

Division

1—Selectingandusinganame

193

147 Whenanameisavailable

193

148 Acompany’sname

194

149 Acceptableabbreviations

195

150 Exceptiontorequirementforusing“Limited”inname

195

151 Exceptiontorequirementforusing“Limited”inname—preexistinglicences

196

152 Reservinganame

198

153 UsinganameandACNondocuments

198

154 ExceptiontorequirementtohaveACNonreceipts

199

155 Regulationsmayexemptfromrequirementtosetoutinformationondocuments

199

156 Carryingonbusinessusing“Limited”,“NoLiability”or“Proprietary”inname

199

Division

2—Changingacompany’sname

200

157 Companychangingitsname

200

157A Changeofnameofcompanyunderexternaladministration

200

158 ASIC’spowertodirectcompanytochangeitsname

202

159 ASIC’spowertoinclude“Limited”incompany’sname

202

160 ASICmustissuenewcertificateifcompany’snamechanges

203

161 Effectofnamechange

203

161A Companyunderexternaladministration—formernametobeusedondocuments

203

Part

2B.7—Changingcompanytype

206

162 Changingcompanytype

206

163 Applyingforchangeoftype

208

164 ASICchangestypeofcompany

211

165 ASICmaydirectaproprietarycompanytochangetoapubliccompanyincertaincircumstances

212

166 Effectofchangeoftype

213

167 Issueofsharesbycompanyorholdingcompany—companylimitedbyguaranteechangingtocompanylimitedbyshares

213

167AA ApplicationofParttocompanylimitedbothbysharesandbyguarantee

214

Chapter

2C—Registers

215

Part

2C.1—Registersgenerally

215

167A WhoiscoveredbythisChapter

215

168 Registerstobemaintained

215

169 Registerofmembers

216

170 Registerofoptionholdersandcopiesofoptionsdocuments

218

171 Registerofdebentureholders

219

172 Locationofregisters

219

173 Righttoinspectandgetcopies

220

174 Agent’sobligations

222

175 Correctionofregisters

223

176 Evidentiaryvalueofregisters

223

177 Useofinformationonregisters

223

178 Overseasbranchregisters

224

Part

2C.2—Noticebyproprietarycompaniesofchangestomemberregister

226

178A Noticeofchangetomemberregister

226

178B Top20only

227

178C Noticeofchangetosharestructure

227

178D TimewithinwhichASICmustbenotified

227

Chapter

2D—Officersandemployees

229

Part

2D.1—Dutiesandpowers

229

179 Backgroundtodutiesofdirectors,otherofficersandemployees

229

Division

1—Generalduties

230

180 Careanddiligence—civilobligationonly

230

181 Goodfaith—civilobligations

231

182 Useofposition—civilobligations

231

183 Useofinformation—civilobligations

232

184 Goodfaith,useofpositionanduseofinformation—criminaloffences

232

185 Interactionofsections

180to184withotherlawsetc.

233

186 Territorialapplicationofsections

180to184

233

187 Directorsofwhollyownedsubsidiaries

234

188 Responsibilityofsecretariesetc.forcertaincorporatecontraventions

234

189 Relianceoninformationoradviceprovidedbyothers

235

190 Responsibilityforactionsofdelegate

236

190A LimitedapplicationofDivisiontoregistrableAustralianbodies

236

190B DivisiondoesnotapplytoAboriginalandTorresStraitIslandercorporations

237

Division

2—Disclosureof,andvotingonmattersinvolving,materialpersonalinterests

238

191 Materialpersonalinterest—director’sdutytodisclose

238

192 Directormaygiveotherdirectorsstandingnoticeaboutaninterest

240

193 Interactionofsections

191and192withotherlawsetc.

241

194 Votingandcompletionoftransactions—directorsofproprietarycompanies(replaceablerule—seesection

135)

242

195 Restrictionsonvoting—directorsofpubliccompaniesonly

242

196 ASICpowertomakedeclarationsandclassorders

244

Division

3—Dutytodischargecertaintrustliabilities

245

197 Directorsliablefordebtsandotherobligationsincurredbycorporationastrustee

245

Division

4—Powers

246

198A Powersofdirectors(replaceablerule—seesection

135)

246

198B Negotiableinstruments(replaceablerule—seesection

135)

246

198C Managingdirector(replaceablerule—seesection

135)

246

198D Delegation

246

198E Singledirector/shareholderproprietarycompanies

247

198F Rightofaccesstocompanybooks

247

Part

2D.2—Restrictionsonindemnities,insuranceandterminationpayments

249

Division

1—Indemnitiesandinsuranceforofficersandauditors

249

199A Indemnificationandexemptionofofficerorauditor

249

199B Insurancepremiumsforcertainliabilitiesofdirector,secretary,otherofficerorauditor

250

199C Certainindemnities,exemptions,paymentsandagreementsnotauthorisedandcertaindocumentsvoid

251

Division

2—Terminationpayments

252

200 InterpretingthisDivision

252

200AA Meaningofmanagerialorexecutiveoffice

252

200AB Meaningofbenefit

253

200A Whenbenefitgiveninconnectionwithretirementfromanofficeorposition

253

200B Retirementbenefitsgenerallyneedmembershipapproval

255

200C Benefitsontransferofundertakingorpropertyneedmembershipapproval

256

200D Contraventiontoreceivebenefitwithoutmemberapproval

257

200E Approvalbymembers

257

200F Exemptbenefitsandbenefitsgivenincertaincircumstances

259

200G Genuinepaymentsofpensionandlumpsum

261

200H Benefitsrequiredbylaw

264

200J Benefitstobeheldontrustandrepaid

264

Part

2D.3—Appointment,remunerationandcessationofappointmentofdirectors

265

Division

1—Appointmentofdirectors

265

SubdivisionA—Generalrules

265

201A Minimumnumberofdirectors

265

201B Whocanbeadirector

265

201D Consenttoactasdirector

265

201E Specialrulesfortheappointmentofpubliccompanydirectors

266

201F Specialrulesfortheappointmentofdirectorsforsingledirector/singleshareholderproprietarycompanies

266

201G Companymayappointadirector(replaceablerule—seesection

135)

267

201H Directorsmayappointotherdirectors(replaceablerule—seesection

135)

267

201J Appointmentofmanagingdirectors(replaceablerule—seesection

135)

268

201K Alternatedirectors(replaceablerule—seesection

135)

268

201L Signpost—ASICtobenotifiedofappointment

268

201M Effectivenessofactsbydirectors

269

SubdivisionB—Limitsonnumbersofdirectorsofpubliccompanies

269

201N ApplicationofSubdivision

269

201P Directorsmustnotsetboardlimitunlessproposedlimithasbeenapprovedbygeneralmeeting

270

201Q Requirementsforexplanatorystatementtomembers

270

201R Recordsofvotingonboardlimitresolutionifpolldemanded

271

201S Noticeofresolutiontobelodged

272

201T Declarationbycourtofsubstantialc