Treasury Laws Amendment (Mutual Reforms) Act 2019 (37 of 2019)

Schedule 2   Mutual capital instruments (MCIs)

Part 1   Amendment of the Corporations Act 2001

Corporations Act 2001

5   At the end of Part 2F.2

Add:

246H Application of this Part to MCI mutual entities that are companies limited by guarantee

For the purposes of applying this Part to an MCI mutual entity that is a company limited by guarantee, treat the entity:

(a) in relation to a person who holds MCIs in the entity - as a company with a share capital; and

(b) in relation to a non-shareholder mutual member - as a company without a share capital.


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).