The Act requires a majority of votes cast in favour.
CORPORATIONS ACT 2001 - SECT 253J(2)
2) Any other resolution put to the vote at a meeting of the scheme's members must be decided on a show of hands unless a poll is demanded. The resolution is passed on a poll if it has been passed by at least 50% of the votes cast by members entitled to vote on the resolution
So theoretically no one could get elected.
CB
CTP Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
