Section 249E(3) and (4) of the Corporations Act 2001 (Cth) is ‘Failure of Directors to Call General Meeting’ and is extracted below.
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Section 249E(3) and (4) of the Corporations Act 2001 (Cth) is Failure of Directors to Call General Meeting and reads as follows:
Failure of Directors to Call General Meeting
(3) To call the meeting the members requesting the meeting may ask the company under section 173 for a copy of the register of members. Despite paragraph 173(3)(b), the company must give the members the copy of the register without charge.
(4) The company must pay the reasonable expenses the members incurred because the directors failed to call and arrange to hold the meeting.
The maximum penalty for the offence of Failure of Directors to Call General Meeting in Inspection is:
5 penalty units (a Commonwealth penalty unit is currently $210).
However, it should be kept in mind that maximum penalties are reserved for the most serious cases.
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