Extension of time for holding AGM
250P Extension of time for holding AGM
A public company may lodge an application with ASIC to extend the period within which section 250N requires the company to hold an AGM.
If the company applies before the end of the period within which the company would otherwise be required to hold an AGM, ASIC may extend the period in writing. ASIC must specify the period of the extension.
A company granted an extension under subsection (2) must hold its AGM within the extended period.
ASIC may impose conditions on the extension and the company must comply with those conditions.
An offence based on subsection (3) or (4) is an offence of strict liability.
For strict liability, see section 6.1 of the Criminal Code.
This Act’s bill:Explanatory memorandumSecond reading speech
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