NSWIn ForceAct
Co-operatives National Law (NSW)
83Bonus share issues
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83 Bonus share issues
83 Bonus share issues
(1) A distributing co-operative may issue bonus shares to members of the co-operative if the assets of the co-operative—
(a) have been sold at a profit; or
(b) have been revalued at a greater value than that disclosed before the revaluation in the books of the co-operative.
(2) This section does not apply if the assets were acquired for resale at a profit.