Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 250U

    This Division applies in relation to a listed company if:

  (a)   at an AGM (the later AGM ) of the company, at least 25% of the votes cast on a resolution that the remuneration report be adopted were against adoption of the report; and

  (b)   at the immediately preceding AGM (the earlier AGM ) of the company, at least 25% of the votes cast on a resolution that the remuneration report be adopted were against adoption of the report; and

  (c)   a resolution was not put to the vote at the earlier AGM under an earlier application of section   250V.

Note:   Subsection   250R(2) requires a resolution to adopt a remuneration report for a listed company to be put to the vote at the company's AGM.