Access To Registers Of Members: Legislative Changes

If passed, the Bill will limit access to a register of members for "proper" purposes, and introduce a new three-tiered fee structure.

The rules governing access to registers of members may be about to change dramatically.

The Corporations Amendment (No 1) Bill 2010 aims to eliminate improper uses of registers, particularly "predatory", unsolicited, off-market share offers. At the same time, it will make it easier for a third party to use electronic copies of registers.

The Bill and proposed new Regulations will:

• apply a "proper purpose" test to the right to obtain a copy of a register of members;
• prescribe the fee which can be charged by a company for a person to obtain a copy of a register;