Recapitalisation directions—matters relating to compliance
Giving members of the licensee notice of share issue etc. (1) As soon as practicable after a CS facility licensee issues shares, rights to acquire shares, or other capital instruments in compliance with a recapitalisation direction, the licensee must give a written notice: (a) to the persons who were members of the licensee just before the issue; and (b) that: (i) identifies the issue; and (ii) explains the effect of the issue of the shares, rights to acquire shares, or other capital instruments on the members’ interests. (2) If the licensee fails to comply with subsection (1), the Reserve Bank may apply to the Court for, and the Court may make, an order that the licensee comply with that subsection. Issue of shares etc. despite other laws etc. (3) A CS facility licensee may issue shares, rights to acquire shares, or other capital instruments in compliance with a recapitalisation direction despite all of the following: (a) this Act; (b) the licensee’s constitution; (c) the facility’s operating instruments referred to in paragraph 823F(1)(a); (d) any arrangement to which the licensee is a party; (e) any listing rules of a financial market in whose official list the licensee is included.
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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