Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 256A

Purpose

                   This Part states the rules to be followed by a company for reductions in share capital and for share buy-backs. The rules are designed to protect the interests of shareholders and creditors by:

                     (a)  addressing the risk of these transactions leading to the company's insolvency

                     (b)  seeking to ensure fairness between the company's shareholders

                     (c)  requiring the company to disclose all material information.



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