Corporations Act 2001
CHAPTER 2B
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BASIC FEATURES OF A COMPANY
PART 2B.8
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MUTUAL CAPITAL INSTRUMENTS (MCIs)
Division 2
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MCI mutual entities and MCIs
SECTION 167AF
167AF
MCI REQUIREMENTS
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OTHER REQUIREMENTS
A share in a mutual entity meets the requirements in this section if the entity ' s constitution:
(a) provides that the share can only be issued as a fully paid share; and
(b) provides that dividends in respect of the share are non-cumulative; and
(c) sets out the rights attached to the share with respect to participation in surplus assets and profits.
View history note
Hide history noteA share in a mutual entity meets the requirements in this section if the entity ' s constitution:
(a) provides that the share can only be issued as a fully paid share; and
(b) provides that dividends in respect of the share are non-cumulative; and
(c) sets out the rights attached to the share with respect to participation in surplus assets and profits.
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