AGL Corporate Conversion Act 2002
17Preserved resolutions of AGL to continue to have effect after conversion day
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17 Preserved resolutions of AGL to continue to have effect after conversion day
17 Preserved resolutions of AGL to continue to have effect after conversion day
(1) Any preserved resolution continues to have effect on and after the conversion day as if it were a resolution of the members of corporatised AGL passed on the conversion day in relation to corporatised AGL, with such modifications as are necessary or that are prescribed by the regulations.
(2) A regulation referred to in subsection (1) may be made before, on or after the conversion day.
(3) If a regulation referred to in paragraph (j) of the definition of preserved resolution in section 5 (1) is made after the conversion day but before the registration day in relation to a resolution of the proprietors of AGL, subsection (1) is taken to have applied to that resolution on and from the conversion day.
(4) If a regulation modifying a preserved resolution referred to in subsection (1) is made after the conversion day but before the registration day, subsection (1) is taken to have applied to that resolution in its modified form on and from the conversion day.
(5) A preserved resolution has no effect to the extent to which it is inconsistent with this Act or any provision of the constitution of corporatised AGL.
(6) A preserved resolution may be varied or revoked by resolution of the members of corporatised AGL, subject to any applicable provisions of any law or the constitution of corporatised AGL.