342
CurrentApplication of Corporations Act – reissue of redeemed debentures
Chapter 3Management and operation of co-operatives
Part 3.4Funds and property
Division 1Power to raise money
342 Application of Corporations Act – reissue of redeemed debentures
Debentures issued by a co-operative to any of its members or employees are declared to be applied Corporations legislation matters for the purposes of the Corporations application legislation of this jurisdiction in relation to section 563AAA of the Corporations Act, subject to the following modifications:
(a)
the section applies as if a co-operative were a company;
(b) the modifications referred to in section 13(3) of this Law so far as they are relevant.
Note
See section 13, including Note 1 to that section.
This Act’s bill:Explanatory statement
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