11BDirections by members

11B Directions by members

[Section 11B Inserted by No. 18 of 2025, s. 8, Applied:01 Jan 2026]

(1)  The members may give a direction to a company or a wholly-owned subsidiary of a company.

(2)  Before the members give a direction under subsection (1) to a company, or a wholly-owned subsidiary, the members are to notify the company or wholly-owned subsidiary in writing that –

(a) the members intend to give the direction on the matter specified in the notification; and

(b) the company or wholly-owned subsidiary has the period specified in the notification to provide information to the members in respect of the specified matter.

(3)  A direction given to a company, or a wholly-owned subsidiary, under subsection (1)  –

(a) may be given even if the direction is contrary to –

(i) the memorandum and articles of association of the company; or

(ii) a statement of expectations under section 11A in force in respect of the company or subsidiary; or

(iii) the statement of corporate intent under section 11F in force in respect of the company or subsidiary; or

(iv) Treasurer’s Instructions in force in respect of the company or subsidiary; or

(v) if the direction is given to a wholly-owned subsidiary, the constitution of the subsidiary; or

(vi) if the company or wholly-owned subsidiary provided information in respect of the direction in accordance with subsection (2) , that information; and

(b) may not be given if the direction is contrary to the provisions of this Act or another Act of this State or the Commonwealth.

(4)  The members may, by written notice to a company or its subsidiary at any time, amend or revoke a direction given to the company or subsidiary under subsection (1)  –