Improper member register purposes prescribed

Regulation 2C.1.03 of the Corporations Amendment Regulations 2010 (No. 10) prescribes the improper purposes for getting a copy of a company member register pursuant to section 173 (3A) (b) of the Corporations Act (recently amended: discussed here).

The following purposes are prescribed:
(a) soliciting a donation from a member of a company;
(b) soliciting a member of a company by a person who is authorised to assume or use the word stockbroker or sharebroker in accordance with section 923B of the Act;
(c) gathering information about the personal wealth of a member of a company;
(d) making an offer or invitation to which Division 5A of Part 7.9 of the Act applies.

Division 5A of Part 7.9 of the Act applies to unsolicited offers to purchase financial products off-market.

The regulations also prescribe the fee for a copy of a member register pursuant to section 173(3): A base fee of $250 up to 5000 members plus 5 cents for each member between 5 000 members and up to 19,999 members and a further 1 cent for each member over 20,000 members.

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