THE CORPORATIONS LAW

CHAPTER 2H - SHARES

PART 2H.6 - NOTICE REQUIREMENTS

SECTION 254Y   NOTICE TO ASIC OF SHARE CANCELLATION  

254Y     Within 1 month after shares are cancelled, the company must lodge with ASIC a notice in the prescribed form that sets out:

(a)  the number of shares cancelled; and

(b)  any amount paid by the company (in cash or otherwise) on the cancellation of the shares; and

(c)  if the shares are cancelled following a share buy-back - the amount paid by the company (in cash or otherwise) on the buy-back; and

(d)  if the company has different classes of shares - the class to which each cancelled share belonged.

Note:

Provisions under which shares are cancelled include section 254J (redeemable preference shares), section 256B (capital reductions), subsection 257H(3) (shares a company has bought back), section 258D (forfeited shares), and subsections 258E(2) and (3) (shares returned to a company).