Corporations Act 2001

CHAPTER 2J - TRANSACTIONS AFFECTING SHARE CAPITAL  

Note: This Chapter is modified for CCIVs: see Division 2 of Part 8B.4 .

PART 2J.1 - SHARE CAPITAL REDUCTIONS AND SHARE BUY-BACKS  

Division 3 - Other share capital reductions  

Note: This Division applies to a CCIV with modifications: see section 1231H .

SECTION 258E   OTHER SHARE CANCELLATIONS  

258E(1)    
Any reduction in share capital involved in:

(a) the redemption of redeemable preference shares out of the proceeds of a new issue of shares made for the purpose of the redemption (see section 254K); or

(b) a company ' s buying-back of its own shares under sections 257A to 257J if the shares are paid for out of share capital.

is authorised by this section.

258E(2)    
A company may cancel shares returned to it under section 651C, 724(2), 737 or 738 and any reduction in the company ' s share capital that is involved is authorised by this subsection.

258E(3)    
Any reduction in a company ' s share capital because of an order under section 1325A is authorised by this subsection.