12.8.09
CurrentMember shares—unclaimed property
Chapter 12Financial sector reform
Part 12.8Shares in certain bodies corporate
Division 2Member shares
12.8.09 Member shares—unclaimed property
(1)
For clause 38 of Schedule 4 to the Act, section 1343 of the Act does not apply in relation to a member share of the body corporate.
(2)
For clause 38 of Schedule 4 to the Act, the constitution of the body corporate may provide that if a member share is cancelled, and the value of the share is transferred, the value of the share is to be treated as unclaimed moneys held by the body corporate.
This Act’s bill:Explanatory statement
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