Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 98/60]

Authoritative Version
CO 98/60 Orders/ASIC Class Orders as made
This Class Order modifies section 601GC(1) of the Corporations Law so that a modification of a scheme constitution or new constitution that may adversely affect the rights of a class of members, can only be made by a special resolution if any of the requirements of the constitution to protect class rights are met.
Administered by: Treasury
General Comments: This Class Order was originally made under paragraph 601QA(1)(b) of the Corporations Law and is continued in force under section 1399 of the Corporations Act 2001.
Registered 04 Mar 2008
Gazetted 04 Aug 1998
Date of repeal 05 Jul 2017
Repealed by ASIC Corporations (Amendment and Repeal) Instrument 2017/545

Australian Securities and Investments Commission

 

Corporations Law Paragraph 601QA(1)(b) Declaration

 

Pursuant to paragraph 601QA(1)(b) of the Corporations Law ("Law") the Australian Securities and Investments Commission hereby declares that Chapter 5C applies to each responsible entity as if the following words were added at the end of subsection 601GC(1) of the Law:

 

"If the constitution of a scheme sets out a procedure for varying or cancelling rights of a class of members of the scheme, or rights attached to a class of interests under the scheme, those rights may be varied or cancelled by a resolution under paragraph (a) only if that procedure is complied with."

 

Dated 10th day of July 1998

 

 

 

Signed by George Durbridge

as delegate of the Australian Securities and Investments Commission