Additional disclosure requirements for offers involving conversion to company
378 Additional disclosure requirements for offers involving conversion to company
If an offer is part of a proposal for, or is conditional on, the registration of the co‑operative as a company under the Corporations Act, the disclosure statement required to be sent to members for the special postal ballot must contain the following additional information:
(a) full particulars of any proposal by which a director will acquire a relevant interest in a share of the company to be formed;
other information that:
(i) is material to the making of a decision by a member whether or not to agree to the making of the offer; and
is within the knowledge of the directors; and
has not previously been disclosed to the members;
other information the Registrar directs.
This Act’s bill:Explanatory statement
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.