Commonwealth Consolidated Acts Commonwealth Consolidated ActsAct No. 61 of 1998 as amended
This compilation was prepared on 1 November 2005
[This Act was amended by Act No. 63 of 1998 and
Act No. 156 of 1999]
Amendment from Act No. 63 of 1998
[Schedule 7 (item 1) amended subsection 2(5)
Schedule 7 (item 1) commenced on 1 July 1998]
Amendment from Act No. 156 of 1999
[Schedule 9 (item 1)
repealed and substituted the heading
preceding Item 1 of Schedule 4
Schedule 9 (item 1) commenced on 29 June 1998]
Prepared by the Office of
Legislative Drafting and Publishing,
Attorney‑General's Department,
Canberra
Contents
1 Short title etc. [see Note 1]............................................................................ 1
2 Commencement [see Note 1]......................................................................... 1
3 Schedules....................................................................................................... 1
Schedule 1--Main amendments of the Corporations Law 2
Part 1.5--Small business guide 2
1 What registration means................................................................................ 2
2 The company structure for small business.................................................... 7
3 Setting up a new company............................................................................ 7
4 Continuing obligations after the company is set up.................................... 10
5 Company directors and company secretaries.............................................. 12
6 Shares and shareholders............................................................................... 15
7 Signing company documents....................................................................... 17
8 Funding the company's operations............................................................. 17
9 Returns to shareholders............................................................................... 18
10 Annual financial reports and audit............................................................. 19
11 Disagreements within the company.......................................................... 20
12 Companies in financial trouble.................................................................. 21
Chapter 2A--Registering a company 24
Part 2A.1--What companies can be registered 24
112 Types of companies................................................................................ 24
113 Proprietary companies............................................................................ 25
114 Minimum of 1 member............................................................................ 26
115 Restrictions on size of partnerships and associations............................. 26
116 Trade unions cannot be registered........................................................... 26
Part 2A.2--How a company is registered 27
117 Applying for registration......................................................................... 27
118 ASC gives company ACN, registers company and issues certificate..... 28
119 Company comes into existence on registration....................................... 29
120 Members, directors and company secretary of a company.................... 29
121 Registered office...................................................................................... 30
122 Expenses incurred in promoting and setting up company....................... 30
123 Company may have common seal........................................................... 30
Chapter 2B--Basic features of a company 31
Part 2B.1--Company powers and how they are exercised 31
124 Legal capacity and powers of a company............................................... 31
125 Constitution may limit powers and set out objects................................ 31
126 Agent exercising a company's power to make contracts......................... 32
127 Execution of documents (including deeds) by the company itself.......... 32
Part 2B.2--Assumptions people dealing with companies are entitled to make 34
128 Entitlement to make assumptions........................................................... 34
129 Assumptions that can be made under section 128.................................. 34
130 Information available to the public from the ASC does not constitute constructive notice 36
Part 2B.3--Contracts before registration 37
131 Contracts before registration................................................................... 37
132 Person may be released from liability but is not entitled to indemnity... 38
133 This Part replaces other rights and liabilities........................................... 38
Part 2B.4--Replaceable rules and constitution 39
134 Internal management of companies.......................................................... 39
135 Replaceable rules..................................................................................... 39
136 Constitution of a company...................................................................... 40
137 Date of effect of adoption, modification or repeal of constitution.......... 41
138 ASC may direct company to lodge consolidated constitution................ 41
139 Company must send copy of constitution to member............................ 41
140 Effect of constitution and replaceable rules............................................. 42
141 Table of replaceable rules........................................................................ 42
Part 2B.5--Registered office and places of business 45
142 Registered office...................................................................................... 45
143 ASC may change address of registered office to a director's address...... 45
144 Company's name must be displayed at registered office etc.................. 46
145 Opening hours of registered office of public company........................... 46
146 Change of address of principal place of business.................................... 47
Part 2B.6--Names 48
Division 1--Selecting and using a name 48
147 When a name is available......................................................................... 48
148 A company's name.................................................................................. 48
149 Acceptable abbreviations......................................................................... 49
150 Exception to requirement for using "Limited" in name........................... 50
151 Exception to requirement for using "Limited" in name-- pre‑existing licences 50
152 Reserving a name..................................................................................... 51
153 Using a name and ACN on documents.................................................... 51
154 Exception to requirement to have ACN on receipts................................ 52
155 Regulations may exempt from requirement to set out information on documents 52
156 Carrying on business using "Limited", "No Liability" or "Proprietary" in name 52
Division 2--Changing a company's name 52
157 Company changing its name.................................................................... 52
158 ASC's power to direct company to change its name.............................. 53
159 ASC's power to include "Limited" in company's name......................... 53
160 ASC must issue new certificate if company's name changes.................. 54
161 Effect of name change.............................................................................. 54
Part 2B.7 Changing company type 55
162 Changing company type.......................................................................... 55
163 Applying for change of type................................................................... 57
164 ASC changes type of company............................................................... 59
165 ASC may direct a proprietary company to change to a public company in certain circumstances 60
166 Effect of change of type.......................................................................... 61
167 Issue of shares by company or holding company--company limited by guarantee changing to company limited by shares.......................................................................................................... 62
Chapter 2F--Members' rights and remedies 63
246A Membership of a company.................................................................. 63
Part 2F.1--Oppression 63
Part 2F.2--Class rights 63
246B Varying and cancelling class rights........................................................ 63
246C Certain actions taken to vary rights etc................................................ 64
246D Variation, cancellation or modification without unanimous support of class 66
246E Variation, cancellation or modification with unanimous support of class 67
246F Company must lodge documents and resolutions with the ASC.......... 67
246G Member's copies of documents and resolutions.................................. 68
Part 2F.3--Inspection of books 69
247A Order for inspection of books of company or registered managed investment scheme 69
247B Ancillary orders.................................................................................... 69
247C Disclosure of information acquired in inspection................................. 69
247D Company or directors may allow member to inspect books (replaceable rule see section 135) 70
Chapter 2G--Meetings 71
Part 2G.1--Directors' meetings 71
Division 1--Resolutions and declarations without meetings 71
248A Circulating resolutions of companies with more than 1 director (replaceable rule see section 135) 71
248B Resolutions and declarations of 1 director proprietary companies...... 71
Division 2--Directors' meetings 72
248C Calling directors' meetings (replaceable rule see section 135).............. 72
248D Use of technology................................................................................. 72
248E Chairing directors' meetings (replaceable rule see section 135)............ 72
248F Quorum at directors' meetings (replaceable rule see section 135)........ 73
248G Passing of directors' resolutions (replaceable rule see section 135).... 73
Part 2G.2--Meetings of members of companies 74
Division 1--Resolutions without meetings 74
249A Circulating resolutions of proprietary companies with more than 1 member 74
249B Resolutions of 1 member companies.................................................... 75
Division 2--Who may call meetings of members 75
249C Calling of meetings of members by a director (replaceable rule--see section 135) 75
249CA Calling of meetings of members of a listed company by a director... 75
249D Calling of general meeting by directors when requested by members.. 76
249E Failure of directors to call general meeting............................................ 76
249F Calling of general meetings by members................................................ 77
249G Calling of meetings of members by the Court...................................... 77
Division 3--How to call meetings of members 78
249H Amount of notice of meetings.............................................................. 78
249HA Amount of notice of meetings of listed company............................. 78
249J Notice of meetings of members to members and directors.................... 79
249K Auditor entitled to notice and other communications.......................... 80
249L Contents of notice of meetings of members.......................................... 80
249M Notice of adjourned meetings (replaceable rule--see section 135)..... 80
Division 4--Members' rights to put resolutions etc. at general meetings 81
249N Members' resolutions........................................................................... 81
249O Company giving notice of members' resolutions................................. 81
249P Members' statements to be distributed................................................ 82
Division 5--Holding meetings of members 83
249Q Purpose................................................................................................. 83
249R Time and place for meetings of members.............................................. 83
249S Technology............................................................................................ 83
249T Quorum (replaceable rule--see section 135)........................................ 84
249U Chairing meetings of members (replaceable rule--see section 135)..... 84
249V Auditor's right to be heard at general meetings..................................... 85
249W Adjourned meetings............................................................................. 85
Division 6--Proxies and body corporate representatives 86
249X Who can appoint a proxy (replaceable rule for proprietary companies and mandatory rule for public companies--see section 135)....................................................................................... 86
249Y Rights of proxies................................................................................... 86
249Z Company sending appointment forms or lists of proxies must send to all members 87
250A Appointing a proxy.............................................................................. 87
250B Proxy documents.................................................................................. 89
250BA Proxy documents--listed companies................................................. 89
250C Validity of proxy vote.......................................................................... 90
250D Body corporate representative............................................................. 90
Division 7--Voting at meetings of members 91
250E How many votes a member has (replaceable rule--see section 135)... 91
250F Jointly held shares (replaceable rule--see section 135)........................ 92
250G Objections to right to vote (replaceable rule--see section 135)........... 92
250H Votes need not all be cast in the same way.......................................... 92
250J How voting is carried out (replaceable rule--see section 135).............. 92
250K Matters on which a poll may be demanded.......................................... 93
250L When a poll is effectively demanded..................................................... 93
250M When and how polls must be taken (replaceable rule--see section 135) 93
Division 8--AGMs of public companies 94
250N Public company must hold AGM........................................................ 94
250P Extension of time for holding AGM..................................................... 94
250R Business of AGM................................................................................. 95
250S Questions and comments by members on company management at AGM 95
250T Questions by members of auditors at AGM........................................ 95
Part 2G.3--Minutes and members' access to minutes 96
251A Minutes................................................................................................ 96
251AA Disclosure of proxy votes--listed companies................................... 97
251B Members' access to minutes................................................................. 97
Part 2G.4--Meetings of members of registered managed investment schemes 99
Division 1--Who may call meetings of members 99
252A Calling of meetings of members by responsible entity......................... 99
252B Calling of meetings of members by responsible entity when requested by members 99
252C Failure of responsible entity to call meeting of the scheme's members 100
252D Calling of meetings of members by members..................................... 101
252E Calling of meetings of members by the Court..................................... 101
Division 2--How to call meetings of members 102
252F Amount of notice of meetings............................................................. 102
252G Notice of meetings of members to members, directors and auditors.. 102
252H Auditors entitled to other communications........................................ 103
252J Contents of notice of meetings of members......................................... 103
252K Notice of adjourned meetings............................................................. 103
Division 3--Members' rights to put resolutions etc. at meetings of members 104
252L Members' resolutions......................................................................... 104
252M Responsible entity giving notice of members' resolutions................ 104
252N Members' statements to be distributed.............................................. 105
Division 4--Holding meetings of members 106
252P Time and place for meetings of members............................................ 106
252Q Technology......................................................................................... 106
252R Quorum............................................................................................... 107
252S Chairing meetings of members............................................................. 107
252T Auditors' right to be heard at meetings of members........................... 108
252U Adjourned meetings............................................................................ 108
Division 5--Proxies and body corporate representatives 108
252V Who can appoint a proxy................................................................... 108
252W Rights of proxies................................................................................ 109
252X Responsible entity sending appointment forms or lists of proxies must send to all members 109
252Y Appointing a proxy............................................................................ 110
252Z Proxy documents................................................................................ 111
253A Validity of proxy vote........................................................................ 112
253B Body corporate representative........................................................... 113
Division 6--Voting at meetings of members 113
253C How many votes a member has.......................................................... 113
253D Jointly held interests.......................................................................... 114
253E Responsible entity and associates cannot vote if interested in resolution 114
253F How to work out the value of an interest........................................... 114
253G Objections to a right to vote............................................................... 115
253H Votes need not all be cast in the same way........................................ 115
253J How voting is carried out..................................................................... 115
253K Matters on which a poll may be demanded........................................ 115
253L When a poll is effectively demanded................................................... 116
Division 7--Minutes and members' access to minutes 116
253M Minutes............................................................................................. 116
253N Members' access to minutes.............................................................. 117
Chapter 2H--Shares 118
254AA Shares to have nominal value........................................................... 118
Part 2H.1--Issuing and converting shares 118
254A Power to issue bonus, partly‑paid, preference and redeemable preference shares 118
254B Terms of issue..................................................................................... 119
254CA Nominal value of shares issued after registration............................. 120
254CB Share premium.................................................................................. 120
254CC Issue of shares at a discount............................................................. 121
254D Pre‑emption for existing shareholders on issue of shares in proprietary company (replaceable rule--see section 135)........................................................................................................ 122
254E Court validation of issue..................................................................... 123
254F Bearer shares and stock must not be issued........................................ 123
254G Conversion of shares.......................................................................... 123
254H Resolution to convert shares into larger or smaller number................ 124
Part 2H.2--Redemption of redeemable preference shares 125
254J Redemption must be in accordance with terms of issue...................... 125
254K Other requirements about redemption................................................ 125
254L Consequences of contravening section 254J or 254K......................... 126
Part 2H.3--Partly‑paid shares 127
254M Liability on partly‑paid shares.......................................................... 127
254N Calls may be limited to when company is externally‑administered... 127
254P No liability companies--calls on shares............................................. 127
254Q No liability companies--forfeiture and sale of shares for failure to meet call 128
254R No liability companies--redemption of forfeited shares.................... 130
Part 2H.4--Capitalisation of profits 132
254S Capitalisation of profits (replaceable rule--see section 135)............. 132
Part 2H.5--Dividends 133
254T Dividends to be paid out of profits.................................................... 133
254U Other provisions about paying dividends (replaceable rule--see section 135) 133
254V When does the company incur a debt?............................................... 133
254W Dividend rights................................................................................... 134
Part 2H.6--Notice requirements 135
254X Notice to ASC of share issue.............................................................. 135
254Y Notice to ASC of share cancellation................................................... 135
Chapter 2J--Transactions affecting share capital 137
Part 2J.1--Share capital reductions and share buy‑backs 137
Division 1--Reductions in share capital not otherwise authorised by law 137
256A Reductions in share capital................................................................. 137
256B Court order confirming the reduction.................................................. 138
256C The creditor protection test................................................................ 138
256D Putting the capital reduction into effect............................................. 140
256E Effect of reduction of share capital on members and former members 141
256F Consequences of failing to comply with section 256A....................... 142
Division 2--Share buy‑backs 142
257AA Purpose............................................................................................ 142
257A The company's power to buy back its own shares........................... 143
257B Buy‑back procedure--general............................................................. 143
257C Buy‑back procedure--shareholder approval if the 10/12 limit exceeded 146
257D Buy‑back procedure--special shareholder approval for selective buy‑back 146
257E Buy‑back procedure--lodgment of offer documents with the ASC... 147
257F Notice of intended buy‑back............................................................... 148
257G Buy‑back procedure--disclosure of relevant information when offer made 148
257H Acceptance of offer and transfer of shares to the company............... 148
257J Signposts to other relevant provisions................................................ 149
Division 3--Other share capital reductions 150
258A Unlimited companies.......................................................................... 150
258B Right to occupy or use real property................................................. 151
258C Brokerage or commission.................................................................... 151
258D Cancellation of forfeited shares.......................................................... 151
258E Other authorised reductions................................................................ 151
258F Reductions because of lost capital...................................................... 152
Part 2J.2--Self‑acquisition and control of shares 153
259A Directly acquiring own shares............................................................ 153
259B Taking security over own shares or shares in holding company........ 153
259C Issuing or transferring shares to controlled entity.............................. 154
259D Company controlling entity that holds shares in it............................ 155
259E When a company controls an entity................................................... 156
259F Consequences of failing to comply with section 259A or 259B......... 157
Part 2J.3--Financial assistance 158
260A Financial assistance by a company for acquiring shares in the company or a holding company 158
260B Shareholder approval.......................................................................... 158
260C Exempted financial assistance............................................................. 160
260D Consequences of failing to comply with section 260A...................... 161
Part 2J.4--Interaction with general directors' duties 163
260E General duties still apply.................................................................... 163
Chapter 2M--Financial reports and audit 164
Part 2M.1--Overview 164
285 Overview of obligations under this Chapter.......................................... 164
Part 2M.2--Financial records 167
286 Obligation to keep financial records...................................................... 167
287 Language requirements........................................................................... 167
288 Physical format...................................................................................... 167
289 Place where records are kept................................................................. 167
290 Director access....................................................................................... 168
291 Signposts to other relevant provisions.................................................. 169
Part 2M.3--Financial reporting 170
Division 1--Annual financial reports and directors' reports 170
292 Who has to prepare annual financial reports and directors' reports..... 170
293 Small proprietary company--shareholder direction............................. 170
294 Small proprietary company--ASC direction........................................ 171
295 Contents of annual financial report....................................................... 171
296 Compliance with accounting standards and regulations........................ 173
297 True and fair view.................................................................................. 173
298 Annual directors' report........................................................................ 173
299 Annual directors' report--general information..................................... 174
300 Annual directors' report--specific information.................................... 175
300A Annual directors' report--specific information to be provided by listed companies 179
301 Audit of annual financial report............................................................. 180
Division 2--Half‑year financial report and directors' report 180
302 Disclosing entity must prepare half‑year financial report and directors' report 180
303 Contents of half‑year financial report................................................... 181
304 Compliance with accounting standards and regulations........................ 182
305 True and fair view.................................................................................. 182
306 Half‑year directors' report.................................................................... 182
Division 3--Audit and auditor's report 183
307 Audit...................................................................................................... 183
308 Auditor's report on annual financial report........................................... 183
309 Auditor's report on half‑year financial report....................................... 184
310 Auditor's power to obtain information................................................. 185
311 Reporting to ASC.................................................................................. 185
312 Assisting auditor.................................................................................... 185
313 Special provisions on audit of borrowing corporations and guarantor bodies 186
Division 4--Annual financial reporting to members 187
314 Annual financial reporting to members.................................................. 187
315 Deadline for reporting to members........................................................ 188
316 Member's choices for annual financial information............................... 188
317 Consideration of reports at AGM......................................................... 189
318 Additional reporting by debenture issuers............................................ 189
Division 5--Lodging reports with the ASC 190
319 Lodgment of annual reports with the ASC............................................ 190
320 Lodgment of half‑year reports with the ASC........................................ 191
321 ASC power to require lodgment............................................................ 191
322 Relodgment if financial statements or directors' reports amended after lodgment 192
Division 6--Special provisions about consolidated financial statements 192
323 Directors and officers of controlled entity to give information............. 192
323A Auditor's power to obtain information from controlled entity.......... 192
323B Controlled entity to assist auditor...................................................... 193
323C Application of Division to entity that has ceased to be controlled.... 193
Division 7--Financial years and half‑years 193
323D Financial years and half‑years............................................................ 193
Division 8--Disclosure by listed companies of information filed overseas 194
323DA Listed companies to disclose information filed overseas................. 194
Part 2M.5--Accounting standards 196
334 Accounting standards............................................................................ 196
335 Equity accounting.................................................................................. 197
336 Comparative amounts............................................................................ 197
337 Interpretation of accounting standards.................................................. 197
338 Severing invalid provisions.................................................................... 197
339 Evidence of text of accounting standard................................................ 197
Part 2M.6--Exemptions and modifications 199
340 ASC's power to make specific exemption orders................................. 199
341 ASC's power to make class orders........................................................ 199
342 Criteria for specific exemption orders and class orders......................... 200
343 Modification by regulations.................................................................. 201
Part 2M.7--Sanctions for contraventions of Chapter 202
344 Contravention of Part 2M.2 or 2M.3.................................................... 202
Chapter 2N--Annual returns and lodgments with the ASC 203
Part 2N.1--Annual returns 203
345 Deadline for lodging annual return......................................................... 203
346 Solvency resolution--companies.......................................................... 204
347 Lodging annual return with ASC........................................................... 204
348 Contents of annual return--companies................................................. 204
349 Contents of annual return--registered schemes.................................... 206
Part 2N.2--Lodgments with ASC 208
350 Forms for documents to be lodged with ASC....................................... 208
351 Signing documents lodged with ASC..................................................... 208
352 Documents lodged with ASIC electronically......................................... 208
Chapter 5A--Deregistration of companies 210
601AA Deregistration--voluntary............................................................... 210
601AB Deregistration--ASC initiated......................................................... 211
601AC Deregistration--following amalgamation or winding up.................. 212
601AD Effect of deregistration.................................................................... 212
601AE What the ASC does with the property............................................ 213
601AF ASC's power to fulfil outstanding obligations of deregistered company 214
601AG Claims against insurers of deregistered company............................ 214
601AH Reinstatement.................................................................................. 215
Chapter 5B--Bodies corporate registered as companies, and registrable bodies 216
Part 5B.1--Registering a body corporate as a company 216
Division 1--Registration 216
601BA Bodies corporate may be registered as certain types of companies 216
601BB Bodies registered as proprietary companies.................................... 216
601BC Applying for registration under this Part......................................... 217
601BD ASC gives body ACN, registers as company and issues certificate 220
601BE Registered office............................................................................... 221
601BF Name................................................................................................. 221
601BG Constitution..................................................................................... 221
601BH Modifications of constitution.......................................................... 221
601BJ ASC may direct company to apply for Court approval for modifications of constitution 222
601BK Establishing registers and minute books.......................................... 222
601BL Registration of registered bodies....................................................... 222
Division 2--Operation of the Corporations Law 223
601BM Effect of registration under this Part............................................... 223
601BN Liability of members on winding up................................................ 223
601BP Bearer shares..................................................................................... 223
601BR First AGM....................................................................................... 224
601BS Modification by regulations.............................................................. 224
Part 5B.3--Names of registrable Australian bodies and foreign companies 225
601DA Reserving a name............................................................................. 225
601DB Acceptable abbreviations................................................................. 225
601DC When a name is available.................................................................. 226
601DD Registered Australian bodies and registered foreign companies can carry on business with some names only 227
601DE Using a name and ARBN................................................................. 227
601DF Exception to requirement to have ARBN on receipts...................... 227
601DG Regulations may exempt from requirement to set out information on documents 228
601DH Notice of name change must be given to the ASC........................... 228
601DJ ASC's power to direct a registered name be changed....................... 228
Chapter 10--National scheme provisions 230
1362A Recognition of companies from other jurisdictions.......................... 230
1362B Transfer of registration..................................................................... 230
1362BA Compensation for compulsory acquisition.................................... 231
Chapter 11--Application and transitional provisions 232
Part 11.1--Introduction of the Corporations Law 232
1362CA Existing company........................................................................... 232
1362CB Existing company taken to be registered under the Corporations Law 232
1362CC Constitution of existing company.................................................. 233
1362CD Application of Law to existing companies.................................... 233
1362CE Acts preparatory to external administration of existing company. 234
1362CF Appointments of receivers............................................................. 234
1362CG Application of Division 2 of Part 5.6............................................ 234
1362CH Reinstatement of companies deregistered before commencement. 235
1362CJ Registrable Australian bodies and foreign companies..................... 235
Division 10--Changes resulting from the Company Law Review Act 1998 236
1412 Meaning of commencement, new Law and old Law............................ 236
1413 Registration--existing companies continue to be registered................ 236
1414 Registration--application orders under subsection 112(3) of the old Law 237
1415 Basic features of a company--memorandum and articles are taken to be constitution 237
1416 Basic features of a company--companies limited both by shares and by guarantee 237
1417 Basic features of a company--acts before external administration of existing company 238
1418 Basic features of a company--registered office.................................. 238
1419 Basic features of a company--opening hours of registered office of public company 238
1420 Basic features of a company--name, reservation of name and ACN continues 239
1421 Members' rights and remedies--applications for inspection orders under repealed provisions 239
1422 Meetings--AGM before commencement........................................... 239
1423 Meetings--first AGM for companies incorporated before commencement 239
1424 Meetings--general transitional arrangements...................................... 240
1425 Nominal value...................................................................................... 241
1426 Share capital--calls on partly‑paid shares.......................................... 241
1427 Share capital--provisions in constitution about amount of share capital and division into shares 242
1428 Share capital--conversion of stock into shares................................... 243
1429 Share capital--previous Law continues to apply to capital reductions initiated before commencement 243
1430 Share capital--continued operation of other repealed provisions....... 243
1431 Financial reports and audit--application of Chapter 2M to periods that end after commencement, and continued application of repealed provisions to past periods........................ 244
1432 Financial reports and audit--lodgment of accounts by public companies that are not disclosing entities 244
1433 Financial reports and audit--continued operation of accounting standards 245
1434 Financial reports and audit--continued operation of exemption orders 245
1435 Annual returns--solvency resolution.................................................. 245
1436 Annual returns--application of annual return provisions................... 246
1437 Deregistration--previous Law continues to apply to deregistrations initiated before commencement 246
1438 Deregistration--property vested in ASC under previous laws.......... 246
1439 Deregistration--reinstatement of registration where application under section 571 or subsection 574(3) made before commencement............................................................................... 247
1440 Deregistration--deregistration of companies dissolved under the State Bank (Corporatisation) Act 1994 of South Australia......................................................................................... 247
1441 Accounting standards made under section 32 of the Corporations Act 1989 248
1442 References in State laws and other documents.................................... 248
Schedule 2--Consequential amendment of the Corporations Law 250
Part 1--Registering a company (new Chapter 2A) Basic features of a company (new Chapter 2B) Members' rights and remedies (new Chapter 2F) 250
Part 2--Meetings (new Chapter 2G) 278
Part 3--Shares (new Chapter 2H) Transactions affecting share capital (new Chapter 2J) 285
Part 4--Financial reports and audit (new Chapter 2M) 299
Part 7.5--Dealers' financial statements and audit 308
Part 8.5--Financial statements and audit 312
Part 5--Annual returns and ASC lodgments (new Chapter 2N) 316
Part 6--Deregistration of companies (new Chapter 5A) 318
Schedule 3--Amendment of the Corporations Law to relocate provisions and make other structural changes 323
Schedule 4--Consequential amendment of other legislation 344
Australian Securities and Investments Commission Act 1989 344
Foreign Acquisitions and Takeovers Act 1975 345
Pooled Development Funds Act 1992 346
Service and Execution of Process Act 1992 348
Schedule 5--Amendments in relation to nominal value and share capital reductions 350
Corporations Law 350