Corporations Act. Australia

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СКАЧАТЬ over the operation of the scheme (whether or not they have the right to be consulted or to give directions); or

      (b) a time‑sharing scheme;

      but does not include the following:

      (c) a partnership that has more than 20 members but does not need to be incorporated or formed under an Australian law because of regulations made for the purposes of subsection 115(2);

      Note: This paragraph has an extended meaning in relation to Chapter 8 (see subsection 1200A(3)).

      (d) a body corporate (other than a body corporate that operates as a time sharing scheme);

      (e) a scheme in which all the members are bodies corporate that are related to each other and to the body corporate that promotes the scheme;

      (f) a franchise;

      (g) a statutory fund maintained under the Life Insurance Act 1995;

      (h) a regulated superannuation fund, an approved deposit fund, a pooled superannuation trust, or a public sector superannuation scheme, within the meaning of the Superannuation Industry (Supervision) Act 1993;

      (ha) an FHSA trust, within the meaning of the First Home Saver Accounts Act 2008;

      (i) a scheme operated by an Australian ADI in the ordinary course of its banking business;

      Note: This paragraph has an extended meaning in relation to Chapter 8 (see subsection 1200A(3)).

      (j) the issue of debentures or convertible notes by a body corporate;

      (k) a barter scheme under which each participant may obtain goods or services from another participant for consideration that is wholly or substantially in kind rather than in cash;

      (l) a retirement village scheme operating within or outside Australia:

      (i) under which the participants, or a majority of them, are provided, or are to be provided, with residential accommodation within a retirement village (whether or not the entitlement of a participant to be provided with accommodation derives from a proprietary interest held by the participant in the premises where the accommodation is, or is to be, provided); and

      (ii) which is not a time‑sharing scheme;

      (m) a scheme that is operated by a co‑operative company registered under Part VI of the Companies (Co‑operative) Act 1943 of Western Australia or under a previous law of Western Australia that corresponds to that Part;

      (ma) a contribution plan;

      (n) a scheme of a kind declared by the regulations not to be a managed investment scheme.

      Note: Paragraph (c) — A partnership with less than 20 members will usually not require registration because of paragraph 601ED(1)(a) and under section 115 a partnership with more than 20 members can only operate if covered by regulations made for the purposes of subsection 115(2).

      manager has a meaning affected by section 90.

      managerial or executive office has the meaning given by section 200AA.

      managing controller, in relation to property of a corporation, means:

      (a) a receiver and manager of that property; or

      (b) any other controller of that property who has functions or powers in connection with managing the corporation;

      and has a meaning affected by paragraph 434G(b) (which deals with 2 or more persons appointed as managing controllers).

      marketable securities means debentures, stocks, shares or bonds of any Government, of any local government authority or of any body corporate, association or society, and includes any right or option in respect of shares in any body corporate and any interest in a managed investment scheme.

      market bid means a takeover bid made under Chapter 6 as a market bid (see section 616).

      market integrity rules, when used in a provision outside Chapter 7, has the same meaning as it has in Chapter 7.

      market traded option means an option declared by an operator of a prescribed financial market to be a market traded option.

      member:

      (a) in relation to a managed investment scheme¾means a person who holds an interest in the scheme; or

      (e) in relation to a company — a person who is a member under section 231.

      members’ voluntary winding up means a winding up under Part 5.5 where a declaration has been made and lodged pursuant to section 494.

      minerals means minerals in any form, whether solid, liquefied or gaseous and whether organic or inorganic.

      minimum holding buy‑back means a buy‑back of all of a holder’s shares in a listed corporation if the shares are less than a marketable parcel within the meaning of the rules of the relevant financial market.

      mining purposes means any or all of the following purposes:

      (a) prospecting for ores, metals or minerals;

      (b) obtaining, by any mode or method, ores, metals or minerals;

      (c) the sale or other disposal of ores, metals, minerals or other products of mining;

      (d) the carrying on of any business or activity necessary for, or incidental to, any of the foregoing purposes;

      whether in Australia or elsewhere, but does not include quarrying operations for the sole purpose of obtaining stone for building, roadmaking or similar purposes.

      misconduct includes fraud, negligence, default, breach of trust and breach of duty.

      modifications includes additions, omissions and substitutions.

      money includes a payment order.

      national newspaper means a daily newspaper that circulates generally in each State and each internal Territory.

      NCSC means the National Companies and Securities Commission.

      necessary transfer documents for the transfer of securities to a person means the documents that are sufficient to enable the person to become the holder of the securities.

      negative, in relation to a document, means a transparent negative photograph used, or intended to be used, as a medium for reproducing the contents of the document, and includes a transparent photograph made from surface contact with the original negative photograph.

      negative solvency resolution means a resolution by the directors of a company that, in their opinion, there are not reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

      negotiable СКАЧАТЬ