Corporations Act. Australia
Чтение книги онлайн.
Читать онлайн книгу Corporations Act - Australia страница 121
Название: Corporations Act
Автор: Australia
Издательство: Проспект
Жанр: Юриспруденция, право
isbn: 9785392086429
isbn:
2
section 1324
injunctions to restrain contravention
The Court may grant an injunction against conduct that constitutes, or would constitute, a contravention of this Act.
4
subsection 609(4) section 611 (item 19 of the table)
application of takeover provisions
These sections deal with the application of Chapter 6 to buy‑backs.
5
section 259A
consequences of failure to follow procedures — the company and the officers
If a company fails to follow the procedure in this Division, the company contravenes this section and the officers who are involved in the contravention are liable to a civil penalty under Part 9.4B and may commit an offence.
6
section 256D
consequences of failure to follow procedures if reduction in share capital involved — the company and the officers
If the buy‑back involves a reduction in share capital and the company fails to follow the procedures in this Division, the company contravenes this section and the officers who are involved in the contravention are liable to a civil penalty under Part 9.4B and may commit an offence.
7
section 256D
consequences of failure to follow procedures if reduction in share capital involved — the transaction
This section provides that a failure to follow the procedures for share capital reductions does not affect the validity of the buy‑back transaction itself.
8
Chapter 6CA
continuous disclosure provisions
Under this Chapter a disclosing entity is required to disclose information about its securities that is material and not generally available.
9
Chapter 2E
benefits to related parties to be disclosed
Under this Chapter, a financial benefit to a director or other related party may need to be approved at a general meeting before it is given.
10
section 125
provisions in constitution
This section deals with the way in which a company’s constitution may restrict the exercise of the company’s powers and the consequences of a failure to observe these restrictions.
11
sections 246B‑246G
variation of class rights
These sections deal with the variation of rights attached to a class of shares. This variation may be governed by the provisions of a company’s constitution.
Division 3 — Other share capital reductions
258A Unlimited companies
An unlimited company may reduce its share capital in any way.
258B Right to occupy or use real property
(1) If a company has a constitution, under it the company may grant to a shareholder, as a shareholder, a right to occupy or use real property that the company owns or holds under lease, whether the right is a lease or licence or a contractual right.
Note: Before the introduction of strata or unit titles systems, rights to occupy real property were sometimes based on a holding of shares in a company.
(2) A company may transfer to a person an interest in land in exchange for, or in satisfaction of, a right to occupy or use the land of the kind referred to in subsection (1).
Example: A person has a right to occupy an apartment in a block of units because they hold shares in a company. As part of converting the block of units to strata title, the person surrenders the shares in return for a transfer of strata title over the apartment. The capital reduction involved in the transfer is authorised under this subsection.
258C Brokerage or commission
A company may pay brokerage or commission to a person in respect of that person or another person agreeing to take up shares in the company.
258D Cancellation of forfeited shares
A company may, by resolution passed at a general meeting, cancel shares that have been forfeited under the terms on which the shares are on issue.
258E Other share cancellations
(1) Any reduction in share capital involved in:
(a) the redemption of redeemable preference shares out of the proceeds of a new issue of shares made for the purpose of the redemption (see section 254K); or
(b) a company’s buying‑back of its own shares under sections 257A to 257J if the shares are paid for out of share capital.
is authorised by this section.
(2) A company may cancel shares returned to it under section 651C, 724(2), 737 or 738 and any reduction in the company’s share capital that is involved is authorised by this subsection.
(3) Any reduction in a company’s share capital because of an order under section 1325A is authorised by this subsection.
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 СКАЧАТЬ