253MMinutes

253M Minutes

(1) A responsible entity of a registered scheme must keep minute books in which it records within 1 month: (a) proceedings of meetings of the scheme’s members; and (b) resolutions of meetings of the scheme’s members. (2) The responsible entity must ensure that minutes of a meeting are signed within a reasonable time after the meeting by the chair of the meeting or the chair of the next meeting. (3) The responsible entity must keep the minute books at: (a) its registered office; or (b) its principal place of business in this jurisdiction; or (c) another place in this jurisdiction approved by ASIC. (3A) An offence based on subsection (1), (2) or (3) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.

(4) A minute that is so recorded and signed is evidence of the proceeding or resolution to which it relates, unless the contrary is proved.