Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 258F

Reductions because of lost capital

             (1)  A company may reduce its share capital by cancelling any paid-up share capital that is lost or is not represented by available assets.

             (2)  This power does not apply if:

                     (a)  the company also cancels shares; or

                     (b)  the cancellation of paid-up share capital is inconsistent with the requirements of any accounting standard.



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