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 258F   REDUCTIONS BECAUSE OF LOST CAPITAL  

258F(1)   [ Capital lost or not represented by available assets]  

A company may reduce its share capital by cancelling any paid-up share capital that is lost or is not represented by available assets.

258F(2)   [ Exceptions]  

This power does not apply if:


(a) the company also cancels shares; or


(b) the cancellation of paid-up share capital is inconsistent with the requirements of any accounting standard.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.