Corporations Regulations 2001
[ CCH Note: There is no regulation 12.8.01.]
A share in the body corporate to which subregulation (2) or (3) applies is a member share .
12.8.03(2)
This subregulation applies if the share: (a) is not an ED security; and (b) has a fixed value; and (c) is held by a single person, or 2 or more persons jointly; and (d) entitles the holder, or joint holders, to use services provided by the body corporate; and (e) is not transferable or transmissible, or is only transferable or transmissible to a person or body specified in the rules or constitution of the body corporate in circumstances stated in the rules or constitution.
12.8.03(3)
This subregulation applies if: (a) the share is taken to have been issued under paragraph 12(1)(b), (c) or (d) of the transfer provisions; or (b) that Act applies to the share under clause 15 of Schedule 4 to that Act; or (c) the share is declared under regulation 12.8.04 to be a member share; or (d) the share is issued under regulation 12.8.11 or 12.8.12 .
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