Section 250U — Corporations Act 2001: Application

This Division applies in relation to a listed company if: (a) at an AGM (the later AGM) of the company, at least 25% of the votes cast on a resolution that the remuneration report be adopted were against adoption of the report; and (b) at the immediately preceding AGM (the earlier AGM) of the company, at least 25% of the votes cast on a resolution that the remuneration report be adopted were against adoption of the report; and (c) a resolution was not put to the vote at the earlier AGM under an earlier application of section 250V. Note: Subsection 250R(2) requires a resolution to adopt a remuneration report for a listed company to be put to the vote at the company’s AGM.