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 2H - SHARES

View history reference

 View history note

 Hide history note

History

Chapter 2H inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

PART 2H.3 - PARTLY-PAID SHARES

 View history note

 Hide history note

History

Part 2H.3 inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

SECTION 254P   NO LIABILITY COMPANIES - CALLS ON SHARES  

View history reference

254P(1)  Making calls.  

A call on a share in a no liability company is not effective unless it is made payable at least 14 days after the call is made.

254P(2)  Notice of call.  

At least 7 days before a call on shares in a no liability company becomes payable, the company must give the holders of the shares notice of:

(a)  the amount of the call;

(b)  the day when it is payable; and

(c)  the place for payment.

The notice must be sent by post. If the notice is not given, the call is not payable.

254P(3)  [Forfeited shares]  

A call does not have any effect on a forfeited share that is held by or in trust for the company under subsection 254Q(6). However, when the share is re-issued or sold by the company, the share may be credited as paid up to the amount determined by the company in accordance with its constitution or by resolution.

 View history note

 Hide history note

History

S 254P inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

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.