258D
In forceCancellation of forfeited shares
Volume 1Chapter 1, Part 1.1 to Chapter 2J, Part 2J.4 sections 1 to 260E
Chapter 2JTransactions affecting share capital
Part 2J.1Share capital reductions and share buy‑backs
Division 3Other share capital reductions
258D Cancellation of forfeited shares
A company may, by resolution passed at a general meeting, cancel shares that have been forfeited under the terms on which the shares are on issue.
This Act’s bill:Explanatory memorandumSecond reading speech
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