THE CORPORATIONS LAW

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 11 - APPLICATION AND TRANSITIONAL PROVISIONS

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PART 11.2 - COMMENCEMENT AND APPLICATION OF CERTAIN CHANGES TO THIS LAW

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History

Heading amended by No 61 of 1998, Sch 3 (effective 1 July 1998).

Pt 11.2 was renumbered from Pt 9.11 by No 61 of 1998, Sch 3 (effective 1 July 1998).

Division 10 - Changes resulting from the Company Law Review Act 1998

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Div 10 inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

SECTION 1428   SHARE CAPITAL - CONVERSION OF STOCK INTO SHARES  

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1428     A company must convert stock in the company into shares within 5 months after the end of the first financial year to end after commencement. The conversion is to be by resolution passed in a general meeting. The company may disregard any stock that could only be converted into a fraction of a share. Until all the stock is converted, the register of members must continue to show the amount of stock, or the number of stock units, held by each member who holds stock and indicate any stock that a member does not hold beneficially.

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History

S 1428 inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

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