The following table lists other provisions of this Act that are relevant to reductions in share capital.
Other provisions relevant to reductions in share capital |
|
| ||
1 |
liability of directors on insolvency Under the combined operation of these sections the directors may have to compensate the company if the company is, or becomes, insolvent when the company reduces its share capital. | |||
2 |
injunctions to restrain contravention Under this section the Court may grant an injunction against conduct that constitutes or would constitute a contravention of this Act. | |||
4 |
Chapter 6CA |
continuous disclosure provisions Under this Chapter a disclosing entity is required to disclose information about its securities that is material and not generally available. | ||
5 |
Chapter 2E |
benefits to related parties to be disclosed Under this Chapter a financial benefit to a director or other related party that could adversely affect the interests of a public company's members as a whole must be approved at a general meeting before it can be given. | ||
6 |
provisions in constitution This section deals with the way in which a company's constitution may restrict the exercise of the company's powers and the consequences of a failure to observe these restrictions. | |||
7 |
These sections deal with the variation of rights attached to a class of shares. This variation may be governed by the provisions of the company's constitution. | |||
Note: This Division does not apply to a CCIV: see subsection 1231C(6).