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.
Alisha Wright is an Associate in Maddocks’ Commercial Team.
Alisha advises extensively in a range of matters including:
Alisha has recently assisted with providing advice to SMSFs in relation to their compliance obligations and the drafting of bespoke shareholders agreements.
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