246H
In forceApplication of this Part to MCI mutual entities that are companies limited by guarantee
Volume 1Chapter 1, Part 1.1 to Chapter 2J, Part 2J.4 sections 1 to 260E
Chapter 2FMembers’ rights and remedies
Part 2F.2Class rights
246H Application of this Part to MCI mutual entities that are companies limited by guarantee
For the purposes of applying this Part to an MCI mutual entity that is a company limited by guarantee, treat the entity:
(a)
in relation to a person who holds MCIs in the entity—as a company with a share capital; and
(b)
in relation to a non‑shareholder mutual member—as a company without a share capital.
This Act’s bill:Explanatory memorandumSecond reading speech
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