International Law

Corporations Amendment (No. 1) Bill 2010 passed: access to member register

By David Jacobson

The Corporations Amendment (No. 1) Bill 2010 has been passed by both Houses of Parliament and is awaiting Royal Assent.

The Bill principally amends Section 173 of the Corporations Act relating to a person’s right to obtain a copy of a company’s register of members:

• to require a person seeking a copy of the register to apply to the company and state the purpose for which they intend to use the information contained in the copy of the register. The company can refuse to provide a copy where the purpose is an improper purpose as provided in the Corporations Regulations.
• to provide that where a register is maintained on a computer that it is inspected on a computer and allows for formats of electronic copies of the register to be prescribed in the Corporations Regulations.

The Bill does not affect the special provisions for the right of access to a member register of building societies, credit unions and friendly societies in Corporations Regulations 2001 Reg 2C.3.01.

Full post as published by Australian Regulatory Compliance Review on November 21, 2010 (boomark / email).