Section 75‑35 Notices of meetings held using vir - Insolvency Practice Rules (Corporations) 2016 - 75‑35 Notices of meetings held using virtual meeting technology | Zoe
75‑35 Notices of meetings held using virtual meeting technology
(1) This section applies if virtual meeting technology is to be used in holding a meeting.
(2) The notice of the meeting must include sufficient information to allow a person entitled to attend the meeting to participate in the meeting by means of the technology.
(3) Subsection (2) also applies in relation to a notice of the adjournment of a meeting if virtual meeting technology is to be used in holding the adjourned meeting.
75‑40 Notification of meetings on ASIC website
(1) The convenor of a meeting must lodge a notice of a meeting with ASIC. The notice must be in accordance with subregulation 5.6.75(4) of the regulations.
Note: Subregulation 5.6.75(4) provides for notices to be electronically lodged and published on a website maintained by ASIC.
(2) The notice must state at least the following information:
(a) the name of the company;
(b) the ACN of the company;
(c) the purpose for which the meeting is being convened;
(d) if there is only one location at which the persons who are entitled to physically attend the meeting may do so—the date, time and place for the meeting;
(da) if there are 2 or more locations at which the persons who are entitled to physically attend the meeting may do so—the date and time for the meeting at each location, and the main location for the meeting for the purposes of subparagraph 75‑75(5)(a)(i);
(db) if virtual meeting technology is to be used in holding the meeting:
(i) that virtual meeting technology is to be used in holding the meeting; and
(ii) that sufficient information has been given to persons who are entitled to attend the meeting to participate in the meeting by means of the technology; and
(iii) if none of the persons entitled to attend the meeting is entitled to physically attend the meeting—the physical address in this jurisdiction nominated by the convenor of the meeting for the purposes of paragraph 75‑75(6)(a) (the notional place for the meeting);
(e) the time and date by which proofs of debt, and proxies for the meeting, are to be submitted;
(f) the name and contact details of the convenor of the meeting.
(3) The notice must be lodged:
(a) if the notice is of a meeting covered by subparagraphs (4) (a)‑(c) – at least 5 business days before the meeting is held;
(b) if the notice is of a meeting covered by subparagraph (4)(d) – at least 5 business days before the meeting is held, or, if that is not practicable, as soon as practicable; .
(c) in any other case – at least 10 business days before the meeting is held.
(4) The meetings covered by this subsection are:
(a) a meeting of creditors under section 436E or 439A, or subsection 449C(4), of the Act;
(b) a meeting of eligible employee creditors under section 444DA of the Act;
(c) a meeting of the eligible unsecured creditors of each of the companies in a pooled group required to be convened under subsection 577(1A) of the Act;
(d) a meeting of a committee of inspection.
Subdivision C—Procedures at meetings
75‑50 Presiding at meetings
Meetings convened by external administrator under section 439A of the Act—external administrator to preside
(1) If:
(a) a meeting is convened by an external administrator; and
(b) the meeting is convened under section 439A of the Act;
the external administrator must preside at the meeting.
Other meetings convened by external administrator—external administrator or nominee to preside
(2) If:
(a) a meeting is convened by an external administrator; and
(b) the meeting is not convened under section 439A of the Act;
the external administrator, or a person nominated by the external administrator, must preside at the meeting.
Meetings not convened by external administrator—person presiding to be elected
(3) In any other case, the persons participating and entitled to vote at a meeting must elect one of their number to preside at the meeting.
75‑70 Proposed resolutions and amendments of proposed resolutions
(1) The person presiding at a meeting must invite the persons participating and entitled to vote at the meeting to propose any relevant resolutions.
(2) The only persons who may propose resolutions, or amendments of proposed resolutions, at a meeting are:
(a) the person presiding at the meeting; and
(b) the persons participating and entitled to vote at the meeting.
(3) A proposed resolution or amendment does not need to be seconded.
(4) If a resolution is proposed, the person presiding at the meeting must allow a reasonable time for debate on the proposed resolution and on any amendment proposed to the resolution.
(5) After a reasonable time for debate has elapsed, the person presiding must:
(a) if no amendment has been proposed—put the proposed resolution to a vote; or
(b) if an amendment or amendments have been proposed, put the amendment or amendments to a vote; and
(i) if the amendment or amendments are defeated—put the resolution as originally proposed to a vote; or
(ii) if an amendment or amendments are passed—put the proposed resolution as amended to a vote.