A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 2H - SHARES  

PART 2H.1 - ISSUING AND CONVERTING SHARES  

SECTION 254E  COURT VALIDATION OF ISSUE  

254E(1)  [Court may make order]  


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:


(a) the issue is or may be invalid for any reason; or


(b) the terms of the issue are inconsistent with or not authorised by:


(i) this Act; or

(ii) another law of a State or Territory; or

(iii) the company's constitution (if any).

254E(2)  [Lodgment with ASIC]  


On lodgment of a copy of the order with ASIC, the order has effect from the time of the purported issue.

 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page