If you don’t vote it is counted as you agree to all terms and conditions of the AGM that is the fact.
Is it only in Australia the case?
The principle that uncast votes at shareholder meetings remain unconsidered generally applies to publicly traded companies worldwide. However, there are some differences in the specific regulations and procedures depending on the country and legal framework:
Quorum: The requirements for a quorum can vary by country. In some countries, the quorum may be relatively low, while in others, it may be higher.
Proxy Voting: The options for casting a vote by proxy or mail can vary. Some countries have very strict rules for proxy voting, while others have more flexible procedures.
Majority Requirements: The specific majority requirements for different types of resolutions (e.g., simple majority, qualified majority) can differ.
Minority Protection: Some countries have special protections for minority shareholders to ensure their interests are considered despite low participation rates.
Despite these differences, the fundamental principle remains: if a shareholder does not vote, their vote is not considered, which can influence the outcome of the votes.