Key policy features of the proposals are to:
Under the current law, companies must give notice of a general meeting to each of their shareholders individually, or by sending a notice by post, usually with reply-paid envelopes (to encourage shareholder responses). This is the case for most companies, unless an individual shareholder 'opts-in' to receive the notice by electronic means.
The modernised law would permit companies to distribute notices in an efficient and cost effective manner, without affecting the rights of shareholders to continue to receive printed copies of notices. Such changes contemplate:
Further information is available at Treasury.gov.au
You can read earlier ClearLaw articles on a range of company related topics.
Julian Smith is a partner in the Maddocks Commercial team.
Julian advises extensively in the following areas:
Julian advises clients ranging from public companies servicing the wholesale financial services market to high net worth individuals and their advisers.
Julian has been with Maddocks since undertaking articles in 2001.
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