Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 194

194. (1) Where a company has purported to issue or allot shares and:

   (a)  the creation, issue or allotment of those shares is invalid by reason
        of any provision of this or any other Act or of the memorandum or
        articles of the company or for any other reason; or

   (b)  the terms of the purported issue or allotment are inconsistent with or
        are not authorised by any such provision; the Court may, on
        application by the company, by a holder or mortgagee of any of those
        shares or by a creditor of the company and on being satisfied that in
        all the circumstances it is just and equitable so to do, make an
        order:

   (c)  validating the purported issue or allotment of those shares; or

   (d)  confirming the terms of the purported issue or allotment of the
        shares; or both.

(2) On the lodging of an office copy of an order made under subsection (1),
the shares to which the order relates shall be deemed to have been validly
issued or allotted on the terms of the issue or allotment of the shares.