Corporations Act 2001
View history note
Hide history noteFor the purposes of section 588G , if a CCIV takes action set out in column 1 of an item of the following table, it incurs a debt at the time set out in column 2 of the item.
| When debts are incurred | ||
| Item |
Column 1
Action of company |
Column 2
When debt is incurred |
| 1 | redeeming redeemable shares that are redeemable only at its option | when the company exercises the option |
| 2 | issuing redeemable shares that are issued on terms that they are liable to be redeemed otherwise than only at its option | when the shares are issued |
| 3 | converting under section 1230C a share that is not a redeemable share into a share that is liable to be redeemed otherwise than only at its option | when the shares are converted |
1238C(2)
This section has effect in relation to a CCIV in addition to the table set out in subsection 588G(1A) .
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