4
CurrentDividends
Schedule 2Provisions concerning transaction SOCs
4 Dividends
(1)
The voting shareholders of a transaction SOC, in consultation with the board, are to determine the corporation’s share dividends scheme.
(2)
The dividends to be paid by a transaction SOC are to be declared by the board in accordance with the share dividends scheme so determined.
(3)
The provisions of section 20S (1) of the State Owned Corporations Act 1989 do not apply to a transaction SOC.
This Act’s bill:Explanatory memorandumSecond reading speech
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