Commonwealth Numbered Acts Commonwealth Numbered Acts
1 At the end of subsection 256B(1)
Add:
Note 5: A company may reduce its share capital for the purposes of the conversion and write-off provisions determined by APRA despite this Division (see Subdivision B of Division 1A of Part II of the Banking Act 1959 , Division 2 of Part IIIA of the Insurance Act 1973 and Division 1A of Part 10A of the Life Insurance Act 1995 ).
2 At the end of subsection 437F(8)
Add:
Note: An alteration in the status of members of a company that is made during the administration of the company may not be void if it is made for the purposes of the conversion and write-off provisions determined by APRA (see Subdivision B of Division 1A of Part II of the Banking Act 1959 , Division 2 of Part IIIA of the Insurance Act 1973 and Division 1A of Part 10A of the Life Insurance Act 1995 ).
3 At the end of subsection 468A(8)
Add:
Note: An alteration in the status of members of a company that is made after the commencement of the winding up by the Court may not be void if it is made for the purposes of the conversion and write-off provisions (see Subdivision B of Division 1A of Part II of the Banking Act 1959 , Division 2 of Part IIIA of the Insurance Act 1973 and Division 1A of Part 10A of the Life Insurance Act 1995 ).
Income Tax Assessment Act 1997
4 Paragraph 202-47(1)(a)
Omit " Financial Sector (Business Transfer and Group Restructure) Act 1999 ", substitute " Financial Sector (Transfer and Restructure) Act 1999 ".
5 Section 320-300
Omit " Financial Sector (Business Transfer and Group Restructure) Act 1999 " , substitute " Financial Sector (Transfer and Restructure) Act 1999 ".
6 Paragraph 320-305(b)
Omit " Financial Sector (Business Transfer and Group Restructure) Act 1999 " , substitute " Financial Sector (Transfer and Restructure) Act 1999 ".
7 Paragraph 322-30(b)
Omit "Division 3 of Part VC", substitute "section 62ZZF, 62ZZFA, 62ZZG or 62ZZGA".
8 Section 322-30 (note 2)
Omit "Division 3 of Part VC of the Insurance Act 1973 entitles", substitute " Sections 62ZZF, 62ZZFA, 62ZZG and 62ZZGA of the Insurance Act 1973 entitle".
9 Paragraph 615-35(a)
Omit " Financial Sector (Business Transfer and Group Restructure) Act 1999 " , substitute " Financial Sector (Transfer and Restructure) Act 1999 ".
10 Subsection 703-37(1)
Omit " Financial Sector (Business Transfer and Group Restructure) Act 1999 ", substitute " Financial Sector (Transfer and Restructure) Act 1999 ".
11 Paragraph 703-37(4)(a)
Omit " Financial Sector (Business Transfer and Group Restructure) Act 1999 ", substitute " Financial Sector (Transfer and Restructure) Act 1999 ".