Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 254H

Resolution to convert shares into larger or smaller number

 
 
(1)
A company may convert all or any of its shares
into a larger or smaller number of shares by resolution passed at a general
meeting. 
 
 
 Note: The variation
of class rights provisions (sections 246B-246G) may apply to the conversion.


 
 
(2)
The conversion takes effect on: 
 
 
(a)
the day the resolution is
passed; or

(b)
a later date specified in the resolution. 

 
 
(3)
Any amount unpaid on shares being
converted is to be divided equally among the replacement shares.


(4)
The company must lodge a copy of the resolution with ASIC within
1 month after it is passed.