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CORPORATIONS ACT 2001

CHAPTER 2J - TRANSACTIONS AFFECTING SHARE CAPITAL  

PART 2J.1 - SHARE CAPITAL REDUCTIONS AND SHARE BUY-BACKS  

SECTION 256A  

256A  PURPOSE  

This Part states the rules to be followed by a company for reductions in share capital and for share buy-backs. The rules are designed to protect the interests of shareholders and creditors by:


(a) addressing the risk of these transactions leading to the company's insolvency


(b) seeking to ensure fairness between the company's shareholders


(c) requiring the company to disclose all material information.

 



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