Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Within 1 month after shares are cancelled, the company must lodge with ASIC a notice in the prescribed form that sets out:
(a) the number of shares cancelled; and
(b) any amount paid by the company (in cash or otherwise) on the cancellation of the shares; and
(c) if the shares are cancelled following a share buy-back--the amount paid by the company (in cash or otherwise) on the buy-back; and
(d) if the company has different classes of shares--the class to which each cancelled share belonged; and
(e) if the company is a proprietary company that has made one or more CSF offers--whether the cancellation has resulted in the company ceasing to have any CSF shareholders.
Note: Provisions under which shares are cancelled include section 254J (redeemable preference shares), section 256B (capital reductions), subsection 257H(3) (shares a company has bought back), section 258D (forfeited shares), and subsections 258E(2) and (3) (shares returned to a company).
(2) An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
Note: This Chapter is modified for CCIVs: see Division 2 of Part 8B.4.