CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 2H - SHARES
History
Chapter 2H inserted by No 61 of 1998, Sch 1 (effective 1
July 1998).
PART 2H.5 - DIVIDENDS
History
Part 2H.5 inserted by No 61 of 1998, Sch 1 (effective 1
July 1998).
SECTION 254U
OTHER PROVISIONS ABOUT PAYING DIVIDENDS (replaceable rule - see section 135)
254U(1)
[Directors may fix certain matters]
The directors may determine that a dividend is payable and fix:
(a)
the amount; and
(b)
the time for payment; and
(c)
the method of payment.
The methods of payment may include the payment of cash, the issue of shares, the grant of options and the transfer of assets.
254U(2)
[Interest]
Interest is not payable on a dividend.
History
S 254U inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).