MCI requirements—class rights
A share in a mutual entity meets the requirement in this section if the rights attached to the share can be varied or cancelled only by special resolution of the company and either: (a) by special resolution passed at a meeting of the class of members holding shares in the same class; or (b) with the written consent of members with at least 75% of the votes in the class.
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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