254U
In forceOther provisions about paying dividends (replaceable rule—see section 135)
Volume 1Chapter 1, Part 1.1 to Chapter 2J, Part 2J.4 sections 1 to 260E
Chapter 2HShares
Part 2H.5Dividends
254U Other provisions about paying dividends (replaceable rule—see section 135)
(1)
The directors may determine that a dividend is payable and fix:
(a)
the amount; and
(b)
the time for payment; and
(c)
the method of payment.
The methods of payment may include the payment of cash, the issue of shares, the grant of options and the transfer of assets.
(2)
Interest is not payable on a dividend.
This Act’s bill:Explanatory memorandumSecond reading speech
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