Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(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.