Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


Resolution to convert shares into larger or smaller number

(1) A company may convert all or any of its shares into a larger or smaller number of shares by resolution passed at a general meeting.

Note: The variation of class rights provisions (sections 246B-246G) may apply to the conversion.

(2) The conversion takes effect on:

the day the resolution is passed; or

a later date specified in the resolution.

(3) Any amount unpaid on shares being converted is to be divided equally among the replacement shares. (4) The company must lodge a copy of the resolution with ASIC within 1 month after it is passed.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback