3
In forceShare capital—references to amount paid on shares issued before conversion day
Schedule 4Provisions relating to par value shares on or after conversion day
3 Share capital—references to amount paid on shares issued before conversion day
For the purposes of the operation of the applied Corporations Act on and after the conversion day in relation to a converted share—
(a)
the amount paid on the share is the sum of all amounts paid to AGL or corporatised AGL at any time for the share (but not including any premium), and
(b)
the amount unpaid on the share is the difference between the issue price of the share (but not including any premium) and the amount paid on the share (see paragraph (a)).
This Act’s bill:Explanatory memorandumSecond reading speech
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