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 2J - TRANSACTIONS AFFECTING SHARE CAPITAL  

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

Division 3 - Other share capital reductions  

SECTION 258E  OTHER SHARE CANCELLATIONS  

258E(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.

258E(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.

258E(3)  

Any reduction in a company's share capital because of an order under section 1325A is authorised by this subsection.

 



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