Section 250BB(2), (3) and (4) of the Corporations Act 2001 (Cth) is ‘Proxy Vote if Appointment Specifies Way to Vote’ and is extracted below.
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Section 250BB(2), (3) and (4) of the Corporations Act 2001 (Cth) is Proxy Vote if Appointment Specifies Way to Vote and reads as follows:
Proxy Vote if Appointment Specifies Way to Vote
(2) If the chair contravenes subsection (1), the chair commits an offence if the appointment as a proxy resulted from:
(a) the company sending to members:
(i) a list of persons willing to act as proxies; or
(ii) a proxy appointment form holding the chair out as being willing to act as a proxy; or
(b) the operation of section 250BC.
(3) If a person other than the chair contravenes paragraph (1)(a) or (d), the person commits an offence if the person:
(a) agreed to the appointment; or
(b) held himself or herself out, or caused another person to hold him or her out, as being willing to act as a proxy in relation to the appointment.
(4) If a person other than the chair contravenes paragraph (1)(b), the person commits an offence if, in relation to at least 2 of the different ways of voting specified by the appointments, the person:
(a) agreed to at least one of the appointments specifying that way of voting; or
(b) held himself or herself out, or caused another person to hold him or her out, as being willing to act as a proxy in relation to at least one of the appointments specifying that way of voting.
The maximum penalty for the offence of Proxy Vote if Appointment Specifies Way to Vote is:
20 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.
Your legal team will be able to advise you of the essential elements the prosecution would need to prove in order to establish the offence, whether those elements are capable of being established in your particular situation, the most effective and efficient way forward and the likely outcome.
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Where issues are found, our lawyers will write to the prosecution asking to have the charges dropped on this basis – often sparing our clients the considerable time and expense associated with defended hearings.
However, should your matter proceed to court, our senior lawyers will represent you and present a strong defence case to maximise your chances of being found ‘not guilty.’
Our senior lawyers are highly skilled advocates who have been recognised for their expert knowledge of the criminal law, as well as their ability to obtain excellent results in difficult cases.
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