Resolution to convert shares into larger or smaller number
(1) A company may convert all or any of its shares into a larger or smaller number of shares by resolution passed at a general meeting. Note 1: The variation of class rights provisions (sections 246B‑246G) may apply to the conversion. Note 2: Section 1230C applies to a CCIV instead of this section. (2) The conversion takes effect on: (a) the day the resolution is passed; or (b) a later date specified in the resolution. (3) Any amount unpaid on shares being converted is to be divided equally among the replacement shares. (4) The company must lodge a copy of the resolution with ASIC within 1 month after it is passed. (5) An offence based on subsection (4) is an offence of strict liability. Note: For strict liability, see section 6.1 of the Criminal Code.
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.
BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.
Try BriefBridge free