CORPORATIONS ACT 2001
CHAPTER 2J
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TRANSACTIONS AFFECTING SHARE CAPITAL
PART 2J.3
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FINANCIAL ASSISTANCE
SECTION 260DA
APPLICATION OF THIS PART TO MCI MUTUAL ENTITIES
260DA(1)
For the purposes of applying this Part to an MCI mutual entity:
(a) a reference to a shareholder of the entity is taken to include a non-shareholder mutual member of the entity; and
(b) the reference to all ordinary shareholders in paragraph 260B(1)(b) is taken to be a reference to all members of the entity. 260DA(2)
To avoid doubt, this section does not have the effect of treating a non-shareholder mutual member ' s membership of an MCI mutual entity as a share.
For the purposes of applying this Part to an MCI mutual entity:
(a) a reference to a shareholder of the entity is taken to include a non-shareholder mutual member of the entity; and
(b) the reference to all ordinary shareholders in paragraph 260B(1)(b) is taken to be a reference to all members of the entity. 260DA(2)
To avoid doubt, this section does not have the effect of treating a non-shareholder mutual member ' s membership of an MCI mutual entity as a share.
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