250U

Application

In force

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.

This Act’s bill:Explanatory memorandum Second reading speech

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