Superannuation (Axiom Funds Management Corporation) Act 1996
40Share capital of AFML
Start here
Get a plain-English read of 40
Turn the raw legal text into a practical explanation grounded in Superannuation (Axiom Funds Management Corporation) Act 1996.
40 Share capital of AFML
40 Share capital of AFML
(1) As from the commencement of this Division, AFMC is to have a share capital.
(2) The nominal share capital is to be the minimum amount that, under the Corporations Law, may be the share capital (made up of shares of $1 each) of a company registered as a public company limited by shares.
(3) The share capital is to be divided into shares of $1 each.
(4) The share capital may be divided into classes of shares.
(5) Rights may be attached to shares included in a class of shares.
(6) Anything done under subsection (4) or (5) is to be done by the Minister by order in writing.
(7) As from the conversion, this section has effect subject to the Corporations Law and to the memorandum and articles of AFML.