10BDirections by members

10B Directions by members

[Section 10B Inserted by No. 18 of 2025, s. 38, Applied:01 Jan 2026]

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

(2)  Before the members give a direction under subsection (1) to the Company or a wholly-owned subsidiary of the Company, 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 the 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 10A in force in respect of the Company or subsidiary; or

(iii) the statement of corporate intent under section 10F 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 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 the Company or its subsidiary at any time, amend or revoke a direction given to the Company or subsidiary under subsection (1)  –