97Certain transfers by companies under Land Titles Act 1980 not to constitute reduction of share capital

### 97 Certain transfers by companies under Land Titles Act 1980 not to constitute reduction of share capital > [*\[Section 97 Substituted by No. 66 of 2000, s. 6, Applied:14 Nov 2000\]*](/view/html/inforce/2000-11-14/act-2000-066#GS6@EN) > > > (1)  Where – > > > > > > (a) land under the [Land Titles Act 1980](/view/html/inforce/2026-04-12/act-1980-019) is comprised in a strata plan registered under the [Strata Titles Act 1998](/view/html/inforce/2026-04-12/act-1998-017) ; and > > > > > > > (b) at the time of registration of the plan, the proprietor of that land was a company which had previously granted a right of a kind referred to in section 195(13) of the Corporations Law – > > > > the transfer by the company of any lot described on the strata plan in exchange for, or in satisfaction of, a right of the kind referred to in section 195(13) of the Corporations Law does not of itself constitute, and is to be taken never to have constituted, a reduction of the share capital of the company. > > > (2)  [Subsection (1)](#GS97@Gs1@EN) does not apply to a transfer made on or after the commencement of section 6 of the *Corporations (Tasmania) Amendment Act 2000*.