Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 51M

  (1)   A company is a mutual entity if:

  (a)   the company is registered under this Act; and

  (b)   the company's constitution provides that a person has no more than one vote at a general meeting of the company for each capacity in which the person is a member of the company.

  (2)   To avoid doubt:

  (a)   the requirement in paragraph   (1)(b) does not fail to be satisfied merely because the company's constitution provides that:

  (i)   2 or more persons may together be joint members of the company; and

  (ii)   those persons each have one vote at a general meeting of the company; and

  (b)   that requirement does not fail to be satisfied merely because the company's constitution provides that:

  (i)   a person may vote as proxy or representative at a general meeting of the company; and

  (ii)   as a result of voting as a proxy or representative, the person may have more than one vote at a general meeting of the company.