In the matter of Chameleon Mining NL [2011] NSWSC 1384

In the matter of Chameleon Mining NL [2011] NSWSC 1384

The court cannot make a declaration under s 227 as to substantial compliance until all conditions prescribed by Division 3 of Part 2E.1, including those relating to member voting and post-meeting lodgments, have been satisfied or the time for those events has passed.

Jurisdiction
Australia
Judgment Date
15 November 2011
Procedural Posture
Interlocutory Application / Adjournment of Originating Process Pending Completion of Statutory Procedure
Outcome
Application adjourned
Legal Topics
['financial Benefit to Related Party' 'member Approval Process' 'asic Lodgment Requirements']
['corporations Law'] ['financial Benefit to Related Party' 'member Approval Process' 'asic Lodgment Requirements']

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Procedural Posture

Interlocutory Application / Adjournment of Originating Process Pending Completion of Statutory Procedure

Legal Issues

  1. 1 ['Whether the court can make a declaration of substantial compliance under s 227 of the Corporations Act prior to completion of all procedural requirements in Division 3 of Part 2E.1' 'Effect of inadvertent late lodgment with ASIC of meeting materials']

Ratio Decidendi

The court cannot make a declaration under s 227 as to substantial compliance until all conditions prescribed by Division 3 of Part 2E.1, including those relating to member voting and post-meeting lodgments, have been satisfied or the time for those events has passed.

Court Disposition

Application adjourned

Orders

  • ['Originating process adjourned to 12 December 2011']