Corporations Act 2001

CHAPTER 2B - BASIC FEATURES OF A COMPANY  

PART 2B.8 - MUTUAL CAPITAL INSTRUMENTS (MCIs)  

Division 3 - Special procedure for amending constitution of mutual entity that proposes to issue MCIs  

SECTION 167AI   MCI AMENDMENT RESOLUTION  

167AI(1)    
An MCI amendment resolution is a resolution of the mutual entity to amend the entity ' s constitution for one or more of the following purposes, and for no other purpose:

(a) to include a statement that the entity is intended to be an MCI mutual entity for the purposes of this Act;

(b) to provide for the entity to issue MCIs;

(c) to provide for the rights and obligations attached to MCIs;

(d) to make changes that are incidental or ancillary to the purpose in paragraph (a), (b) or (c).

167AI(2)    
An MCI amendment resolution must not result in the mutual entity ceasing to be a mutual entity.