CORPORATIONS ACT 2001

CHAPTER 2B - BASIC FEATURES OF A COMPANY  

PART 2B.8 - MUTUAL CAPITAL INSTRUMENTS (MCIs)  

DIVISION 2 - MCI MUTUAL ENTITIES AND MCIs  

SECTION 167AE   167AE   MCI REQUIREMENTS - 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.


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