Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 12.2.12

Converted shares

             (1)  For clause 39 of Schedule 4 to the Act, this regulation modifies the application of section 254K of the Act in relation to a share in a company that is converted in accordance with regulation 12.2.04 to a share of another kind.

             (2)  If the share is partly-paid, the company may redeem the share on the same terms on which the share was redeemable before its conversion.

   



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