QLDIn ForceAct
Co-operatives National Law (Queensland)
sec.347Financial accommodation provisions apply to issue of CCUs
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sec.347 Financial accommodation provisions apply to issue of CCUs
The issuing of CCUs is to be considered to be the obtaining of financial accommodation and accordingly Division 1 applies to the issue of CCUs. For the purpose of that Division, a CCU is to be considered to be a debenture. (sec.347-ssec.1) The issuing of CCUs is to be considered to be the obtaining of financial accommodation and accordingly Division 1 applies to the issue of CCUs. (sec.347-ssec.2) For the purpose of that Division, a CCU is to be considered to be a debenture.