NSWIn ForceAct
Co-operatives National Law (NSW)
78Minimum paid up amount
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78 Minimum paid up amount
78 Minimum paid up amount
(1) A share must not be allotted unless at least 10% of the nominal value of the share has been paid.
(2) Any balance unpaid for shares at the time of allotment must be paid in a way specified in the rules of the co-operative or permitted by this Law.
(3) This section does not apply to a bonus share issued under section 83 or 357.
(4) This section does not affect shares issued before the commencement of this section in this jurisdiction if the Co-operatives National Law Act of this jurisdiction so provides.