Statute
Section 256A — Corporations Act 2001: Purpose
Text of the provision Official document
This Part states the rules to be followed by a company for reductions in share capital and for share buy-backs. The rules are designed to protect the interests of shareholders and creditors by: (a) addressing the risk of these transactions leading to the company’s insolvency (b) seeking to ensure fairness between the company’s shareholders (c) requiring the company to disclose all material information.
Official source: Federal Register of Legislation
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