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This instrument extends the time for certain classes of companies to hold an annual general meeting (AGM) to allow companies to plan and prepare for holding their AGMs in the context of the ongoing COVID-19 pandemic restrictions on gathering and movement.
Administered by: Treasury
Registered 08 Sep 2021
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ASIC Corporations (Extension of Time to Hold AGM) Instrument 2021/770

I, Claire LaBouchardiere, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date    7 September 2021

 

 

 

Claire LaBouchardiere

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Extension of Time to Hold AGM) Instrument 2021/770.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note:    The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under section 253T of the Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.

AGM means an annual general meeting.

Part 2—Determination

5        Extension of time to hold annual general meeting

(1)     The period in subsection 250N of the Act within which a public company (other than a public company to which subsection (2) applies) with a financial year ending on a date that is between 21 February 2021 and 7 July 2021 must hold its AGM is extended by two months.

(2)     The period in subsection 250N of the Act within which a public company limited by guarantee with a financial year ending on a date that is between 24 January 2021 and 7 April 2021 must hold its AGM is extended by four months.

Note 1: A public company limited by guarantee with a financial year ending on a date that is between 8 April 2021 and 7 July 2021 may rely on the extension in subsection (1).

Note 2: Unless revoked earlier, this determination is repealed at the end of 12 months after the date on which it commences: see subsection 253T(5) of the Act.