Shareholders

Any industry participant is entitled to become a shareholder of Gas Industry Co on application and payment of a $1 fee. Each shareholder holds a $1 share, which is redeemable at the option of the shareholder.  Share Application form.

Shareholders must be industry participants, a term that is defined in Gas Industry Co's Constitution.

Every shareholder is entitled to one vote on a poll at a meeting of shareholders on any resolution. However, a shareholder may not vote on any resolution when the shareholder is:

• a subsidiary of another shareholder (the Board may exempt a shareholder from this restriction if it considers that the management of the business and affairs of the shareholder are conducted independently from that of any other shareholder); or
• not an industry participant as defined in Gas Industry Co’s Constitution; or
• any annual fee or other amount payable by the shareholder to Gas Industry Co has not been paid by the due date.
   

Where two or more shareholders are subsidiaries of the same person who is not a shareholder, then only one of the shareholders may vote, unless the Board grants an exemption to the shareholders, allowing them both to vote.

Annual Fee

All shareholders are required to pay an annual fee to Gas Industry Co. The Board set an annual fee for the 2009/10 financial year of $10,000 (plus GST) per shareholder.