252LMembers’ resolutions

252L Members’ resolutions

(1) The following members of a registered scheme may give the responsible entity notice of a resolution that they propose to move at a meeting of the scheme’s members: (a) members with at least 5% of the votes that may be cast on the resolution; or (b) at least 100 members who are entitled to vote at a meeting of the scheme’s members. (1A) The regulations may prescribe a different number of members for the purposes of the application of paragraph (1)(b) to: (a) a particular scheme; or (b) a particular class of scheme. Without limiting this, the regulations may specify the number as a percentage of the total number of members of the scheme. (1B) The resolution must be: (a) a special resolution; or (b) an extraordinary resolution; or (c) a resolution to remove the responsible entity of a scheme that is listed and choose a new responsible entity. (2) The notice must: (a) be in writing; and (b) set out the wording of the proposed resolution; and (c) be signed by the members giving the notice. (3) Separate copies of a document setting out the notice may be used for signing by members if the wording of the notice is identical in each copy. (4) The percentage of the votes that members have is to be worked out as at the midnight before the members give the notice.