Economic Development Act 2012
sec.32OAmount of dividend
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sec.32O Amount of dividend
During the period from 1 to 15 May in a financial year, MEDQ must give the Minister— an estimate of its profit for the financial year; and a recommendation about the amount of the dividend that may be required to be paid for the financial year. Before the end of the financial year, the Minister may— approve the recommendation and give MEDQ a direction to pay a dividend of that amount; or give MEDQ a direction to pay a dividend of a different stated amount. The amount of the dividend for a financial year must not be more than the amount that would be allowed to be paid by a company under the Corporations Act , part 2H .5 if MEDQ were a company. s 32O ins 2024 No. 32 s 18 (sec.32O-ssec.1) During the period from 1 to 15 May in a financial year, MEDQ must give the Minister— an estimate of its profit for the financial year; and a recommendation about the amount of the dividend that may be required to be paid for the financial year. (sec.32O-ssec.2) Before the end of the financial year, the Minister may— approve the recommendation and give MEDQ a direction to pay a dividend of that amount; or give MEDQ a direction to pay a dividend of a different stated amount. (sec.32O-ssec.3) The amount of the dividend for a financial year must not be more than the amount that would be allowed to be paid by a company under the Corporations Act , part 2H .5 if MEDQ were a company.
- (a) an estimate of its profit for the financial year; and
- (b) a recommendation about the amount of the dividend that may be required to be paid for the financial year.
- (a) approve the recommendation and give MEDQ a direction to pay a dividend of that amount; or
- (b) give MEDQ a direction to pay a dividend of a different stated amount.