When debts arise in relation to redeemable shares
(1) For the purposes of section 588G, if a CCIV takes action set out in column 1 of an item of the following table, it incurs a debt at the time set out in column 2 of the item. When debts are incurred Item Column 1Action of company Column 2When debt is incurred 1 redeeming redeemable shares that are redeemable only at its option when the company exercises the option 2 issuing redeemable shares that are issued on terms that they are liable to be redeemed otherwise than only at its option when the shares are issued 3 converting under section 1230C a share that is not a redeemable share into a share that is liable to be redeemed otherwise than only at its option when the shares are converted (2) This section has effect in relation to a CCIV in addition to the table set out in subsection 588G(1A).
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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