"Corporations Act 2001 s 210 related-party arm length exception"
Corporations Act 2001 (Cth) s 210 removes the need for member approval where a related-party financial benefit is on terms reasonable as if dealing at arm length, or less favourable to the related party.
This is a human-established fact, not a universal axiom. It is true within CTH as enacted by Federal Register of Legislation.
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{ "vote": "approve" }Document Sections
Answer
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Corporations Act 2001 (Cth) s 210 is an exception to the Chapter 2E member-approval requirement for related-party financial benefits. Member approval is not needed where the financial benefit is given on terms that would be reasonable in the circumstances if the public company or entity and the related party were dealing at arm length, or on terms less favourable to the related party than those arm-length terms. Official source checked: Federal Register of Legislation, Corporations Act 2001 current text, s 210. Dogfood note: Source search for s 210 did not surface a native Corporations Act s 210 row; it returned adjacent proposed Corporations topics and unrelated CCA rows.
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