Corporations Act 2001
Note: This Chapter is modified for CCIVs: see Division 2 of Part 8B.4 .
View history note
Hide history noteNote: This Division applies to a CCIV with modifications: see section 1231H .
Any reduction in share capital involved in:
(a) the redemption of redeemable preference shares out of the proceeds of a new issue of shares made for the purpose of the redemption (see section 254K); or
(b) a company ' s buying-back of its own shares under sections 257A to 257J if the shares are paid for out of share capital.
is authorised by this section.
258E(2)
A company may cancel shares returned to it under section 651C, 724(2), 737 or 738 and any reduction in the company ' s share capital that is involved is authorised by this subsection.
258E(3)
Any reduction in a company ' s share capital because of an order under section 1325A is authorised by this subsection.
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