Corporations Amendment (Corporate Reporting Reform) Act 2010 (66 of 2010)

Schedule 1   Amendments relating to the Corporations Act 2001

Part 4   Consequential amendments

Financial Sector (Business Transfer and Group Restructure) Act 1999

55   Subsection 36G(2) (note 2)

Repeal the note, substitute:

Note 2: Section 254T of that Act provides that dividends may only be paid if:

(a) the company's assets are sufficiently in excess of its liabilities immediately before the dividend is declared; and

(b) the payment of the dividend is fair and reasonable to the company's shareholders as a whole and does not materially prejudice the company's ability to pay its creditors.