Section 167AI — Corporations Act 2001: MCI amendment resolution

(1) An MCI amendment resolution is a resolution of the mutual entity to amend the entity’s constitution for one or more of the following purposes, and for no other purpose: (a) to include a statement that the entity is intended to be an MCI mutual entity for the purposes of this Act; (b) to provide for the entity to issue MCIs; (c) to provide for the rights and obligations attached to MCIs; (d) to make changes that are incidental or ancillary to the purpose in paragraph (a), (b) or (c). (2) An MCI amendment resolution must not result in the mutual entity ceasing to be a mutual entity.