12.2.12
CurrentConverted shares
Chapter 12Financial sector reform
Part 12.2Transitional matters—general
Division 2Other matters
12.2.12 Converted shares
(1)
For clause 39 of Schedule 4 to the Act, this regulation modifies the application of section 254K of the Act in relation to a share in a company that is converted in accordance with regulation 12.2.04 to a share of another kind.
(2)
If the share is partly‑paid, the company may redeem the share on the same terms on which the share was redeemable before its conversion.
This Act’s bill:Explanatory statement
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