Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 254J

Redemption must be in accordance with terms of issue

 
 
(1)
A company may redeem redeemable preference
shares only on the terms on which they are on issue. On redemption, the shares
are cancelled. 
 
 
 Note: For the
power to issue redeemable preference shares see paragraph 254A(1)(b) and
subsections 254A(2) and (3). 


 
 
(2)
This section does not affect the terms on
which redeemable preference shares may be cancelled under a reduction of
capital or a share buy-back under Part 2J.1.