118Register of directors

#### 118 Register of directors 118 Register of directors > > (1) In this section— > > > > securities does not include deposits or withdrawable shares. > > > (2) For the purposes of this section— > > > > > (a) a person has a relevant interest in securities if the person has a relevant interest in securities for the purposes of the Corporations Act, and > > > > > (b) bodies are related to each other if they are related to each other for the purposes of that Act. > > > (3) A society must keep a register of its directors, principal executive officer and secretaries in accordance with this section. > > > > Maximum penalty—20 penalty units. > > > (4) The register must show in relation to each director of the society— > > > > > (a) the present given name and surname, any former given name or surname, the date and place of birth, the usual residential address and the business occupation (if any) of the director, and > > > > > (b) particulars of directorships held by the director in bodies corporate (other than related bodies corporate) that are public companies, financial institutions or friendly societies, or subsidiaries of any of those bodies, and > > > > > (c) securities issued by a body corporate that is related to the society, being securities in which the director has a relevant interest, and the nature and extent of that interest, and > > > > > (d) particulars of rights or options of the director, or of the director and another person, in relation to the acquisition or disposal of securities issued by a body corporate that is related to the society, and > > > > > (e) particulars of contracts to which the director is a party or under which he or she is entitled to a benefit, being contracts under which a person has a right to call for or to make delivery of securities issued by a body corporate that is related to the society. > > > (5) The register must show in relation to the principal executive officer and each secretary the present given name and surname, any former given name or surname, the date and place of birth, the usual residential address and the business occupation (if any), of the principal executive officer or secretary. > > > (6) A society need not show in its register in relation to a director particulars of securities issued by a body corporate that is related to the society and is a wholly owned subsidiary of the society. > > > (7) A society must, within 7 days after receiving notice from a director under section 101 (1) (a) (General duty to make disclosure), enter in its register, in relation to the director, the particulars specified in subsection (4) of this section, including the number and description of securities, rights, options and contracts to which the notice relates and, in relation to securities, rights or options acquired or contracts entered into after he or she became a director— > > > > > (a) the price or other consideration for the transaction (if any) because of which an entry is required to be made in the register, and > > > > > (b) the date of— > > > > > > > (i) the agreement for the transaction or, if it is later, the completion of the transaction, or > > > > > > > (ii) if there was no transaction, the happening of the event because of which an entry is required to be made in the register. > > > > Maximum penalty—20 penalty units. > > > (8) A society must, within 3 days after receiving a notice from a director under section 101 (1) (b) (General duty to make disclosure), enter in its register the particulars of the change specified in the notice. > > > > Maximum penalty—20 penalty units. > > > (9) A society is not, because of anything done under this section, to be taken for any purpose to have notice of, or to be on inquiry as to, the right of a person to or in relation to a security issued by the society. > > > (10) Within 1 month beginning on the day on which a person becomes or ceases to be a director, the principal executive officer or a secretary of a society, the society must lodge with the Registrar a return in the approved form advising that fact and containing in relation to a new director, principal executive officer or secretary the matters required by subsection (4) (a) or (5) to be shown in the register. > > > > Maximum penalty—5 penalty units. > > > (11) A register kept by a society under this section must be open for inspection— > > > > > (a) by any member of the society, without fee, and > > > > > (b) by any other person, on payment for each inspection of the amount (if any) prescribed by the society’s rules. > > > (12) A society must produce its register at the start of each annual general meeting of the society and keep it open and accessible during the meeting to all persons attending the meeting. > > > > Maximum penalty—20 penalty units. > > > (13) It is a defence to a prosecution for failing to comply with subsection (4) or (5) in relation to particulars relating to a director if the defendant proves that the failure was due to the failure of a director to comply with section 101 (General duty to make disclosure) in relation to those particulars. > > **s 118:** Am 2001 No 34, Sch 4.11 \[14\]; 2016 No 27, Sch 1.9 \[8\].