Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 407

407. (1) The net profits and losses of an investment company from the purchase
and sale of securities shall be respectively credited and debited by the
company to a reserve account to be kept by it and to be called the

"investment fluctuation reserve".

(2) The investment fluctuation reserve is not available for the payment of
dividends.

(3) The investment fluctuation reserve is available for the payment of income
tax payable in respect of profits made on the sale of securities.