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 2J - TRANSACTIONS AFFECTING SHARE CAPITAL

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History

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

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

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History

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

SECTION 256A   PURPOSE  

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256A     This Part states the rules to be followed by a company for reductions in share capital and for share buy-backs. The rules are designed to protect the interests of shareholders and creditors by:

(a)  addressing the risk of these transactions leading to the company's insolvency

(b)  seeking to ensure fairness between the company's shareholders

(c)  requiring the company to disclose all material information.

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History

S 256A inserted by No 61 of 1998, Sch 1 and substituted by Sch 5 (effective 1 July 1998).

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