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

View history reference

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

View history note

Division 10A - Changes resulting from Schedule 5 to the Company Law Review Act 1998

View history note

SECTION 1449 SHARE CAPITAL-REFERENCES IN PRE-COMMENCEMENT CONTRACTS AND OTHER DOCUMENTS TO PAR VALUE

View history reference

1449(1) [Purpose]

This section applies for the purpose of interpreting and applying after commencement:

(a) a contract entered into before commencement (including a company's constitution); or

(b) a trust deed or other document executed before commencement.

1449(2) [Par value]

A reference to the par value of a share is taken to be a reference to:

(a) if the share is issued before commencement - the par value of the share immediately before commencement; or

(b) if the share is issued after commencement but shares of the same class were on issue immediately before commencement - the par value that the share would have had if it had been issued then; or

(c) if the share is issued after commencement and shares of the same class were not on issue immediately before commencement - the par value determined by the directors.

A reference to share premium is taken to be a reference to any residual share capital in relation to the share.

1449(3) [Right to a return of capital]

A reference to a right to a return of capital on a share is taken to be a reference to a right to a return of capital of a value equal to the amount paid in respect of the share's par value.

1449(4) [Aggregate par value]

A reference to the aggregate par value of the company's issued share capital is taken to be a reference to that aggregate as it existed immediately before commencement and:

(a) increased to take account of the par value of any shares issued after commencement; and

(b) reduced to take account of the par value of any shares cancelled after commencement.

View history note

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.