1ASIC Class Order [CO 01/1541]

Australian Securities and Investments Commission
Corporations Act 2001 – Subsection 601QA(1) – Declaration

Under subsection 601QA(1) of the Corporations Act 2001 (the Act) the Australian Securities and Investments Commission hereby declares that Chapter 5C of the Act applies to all persons as if section 601FM were modified by adding the following subsection after subsection (1):

“(1A) Without limiting the generality of subsection (1), in the case of a registered scheme that is listed:

(a) the responsible entity must call and arrange to hold a meeting of the members to consider and vote on proposed resolutions to remove the responsible entity and choose a new responsible entity on the request of:

(i) members with at least 5% of the votes that may be cast on the resolution; or

(ii) at least 100 members who are entitled to vote on the resolution; and

(b) members who hold interests carrying at least 5% of the votes that may be cast at a meeting of the members may call and arrange to hold a meeting of the members to consider and vote on proposed resolutions to remove the responsible entity and choose a new responsible entity; and

(c) the Court may order a meeting of the members to be called to consider and vote on proposed resolutions to remove the responsible entity and choose a new responsible entity if it is impracticable to call the meeting in any other way.”

Dated this 11th day of December 2001.

Signed by Stephen Yen
as delegate of the Australian Securities and Investments Commission