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CORPORATIONS ACT 2001 - SECT 254E
Court validation of issue
(1) On application by a company, a shareholder, a creditor or any other person
whose interests have been or may be affected, the Court may make an order
validating, or confirming the terms of, a purported issue of shares if:
- the issue is or may be invalid for any reason; or
- the terms of the issue are inconsistent with or not authorised by:
- this Act; or
- another law of a State or Territory; or
- the company's constitution (if any).
(2) On lodgment of a copy of the order with ASIC, the order has effect from
the time of the purported issue.
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