254F
In forceBearer shares and stock must not be issued
Volume 1Chapter 1, Part 1.1 to Chapter 2J, Part 2J.4 sections 1 to 260E
Chapter 2HShares
Part 2H.1Issuing and converting shares
254F Bearer shares and stock must not be issued
A company does not have the power to:
(a)
issue bearer shares; or
(b)
issue stock or convert shares into stock.
Note:
The Part 10.1 transitionals contain provisions for the conversion of existing stock into shares.
This Act’s bill:Explanatory memorandumSecond reading speech
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