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