Corporations Act 2001

CHAPTER 2J - TRANSACTIONS AFFECTING SHARE CAPITAL  

PART 2J.1 - SHARE CAPITAL REDUCTIONS AND SHARE BUY-BACKS  

Division 1 - Reductions in share capital not otherwise authorised by law  

SECTION 256E   256E   SIGNPOSTS TO OTHER RELEVANT PROVISIONS  


The following table lists other provisions of this Act that are relevant to reductions in share capital.


Other provisions relevant to reductions in share capital
1 section 588G liability of directors on insolvency
section 1317H Under the combined operation of these sections the directors may have to compensate the company if the company is, or becomes, insolvent when the company reduces its share capital.
2 section 1324 injunctions to restrain contravention
Under this section the Court may grant an injunction against conduct that constitutes or would constitute a contravention of this Act.
[ CCH Note: There is no item 3 in the table to s 256E. ]
4 Chapter 6CA continuous disclosure provisions
Under this Chapter a disclosing entity is required to disclose information about its securities that is material and not generally available.
5 Chapter 2E benefits to related parties to be disclosed
Under this Chapter a financial benefit to a director or other related party that could adversely affect the interests of a public company's members as a whole must be approved at a general meeting before it can be given.
6 section 125 provisions in constitution
This section deals with the way in which a company's constitution may restrict the exercise of the company's powers and the consequences of a failure to observe these restrictions.
7 sections 246B-246G variation of class rights
These sections deal with the variation of rights attached to a class of shares. This variation may be governed by the provisions of the company's constitution.


 

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