Corporations Act 2001
CHAPTER 2B
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BASIC FEATURES OF A COMPANY
PART 2B.8
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MUTUAL CAPITAL INSTRUMENTS (MCIs)
Division 2
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MCI mutual entities and MCIs
SECTION 167AE
167AE
MCI REQUIREMENTS
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CLASS RIGHTS
A share in a mutual entity meets the requirement in this section if the rights attached to the share can be varied or cancelled only by special resolution of the company and either:
(a) by special resolution passed at a meeting of the class of members holding shares in the same class; or
(b) with the written consent of members with at least 75% of the votes in the class.
View history note
Hide history noteA share in a mutual entity meets the requirement in this section if the rights attached to the share can be varied or cancelled only by special resolution of the company and either:
(a) by special resolution passed at a meeting of the class of members holding shares in the same class; or
(b) with the written consent of members with at least 75% of the votes in the class.
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