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
6 At the end of Part 2H.5
Add:
254WA Application of this Part to MCI mutual entities
(1) Section 254SA does not prevent an MCI mutual entity that is a company limited by guarantee paying a dividend in respect of an MCI.
(2) Without limiting section 254T, an MCI mutual entity must not pay a dividend unless the payment of the dividend is fair and reasonable to the entity's members as a whole.
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).
