Document ID: chunk:federal_register_of_legislation:C2024C00606:section:36g
Version: federal_register_of_legislation:C2024C00606
Segment Type: section
Provision Reference: s 36G
Character Range: 85946–88101

36G  What is a restructure instrument?
 (1) A restructure instrument included in a restructure approval is an instrument in relation to an operating body that gives relief (as mentioned in subsection (2)) to:
 (a) if the restructure approval relates to a restructure arrangement covered by subparagraph 36B(1)(b)(i)—any or all of the following, as specified in the instrument:
 (i) the NOHC that is the subject of the restructure approval;
 (ii) any body corporate related to that NOHC;
 (iii) if the instrument specifies a requirement in Division 1 of Part 2J.1 of the Corporations Act 2001—any other person involved in complying with the requirement; or
 (b) if the restructure approval relates to a restructure arrangement covered by subparagraph 36B(1)(b)(ii)—any or all of the following, as specified in the instrument:
 (i) the operating body;
 (ii) any body corporate related to the operating body;
 (iii) if the instrument specifies a requirement in Division 1 of Part 2J.1 of the Corporations Act 2001—any other person involved in complying with the requirement.
 (2) The Minister may specify in the instrument:
 (a) that the bodies and persons specified in the instrument are given relief from specified requirements of Division 1 of Part 2J.1, or Part 2J.2, of the Corporations Act 2001, in accordance with the instrument; and
 (b) the extent (if any) to which the bodies specified in the instrument are given relief from the requirement in section 254T of that Act.
Note 1: Division 1 of Part 2J.1 of the Corporations Act 2001 deals with restrictions in share capital. Part 2J.2 of that Act deals with self‑acquisition and control of shares.
Note 2: Section 254T of that Act provides that dividends may only be paid if:
(a) the company's assets are sufficiently in excess of its liabilities immediately before the dividend is declared; and
(b) the payment of the dividend is fair and reasonable to the company's shareholders as a whole and does not materially prejudice the company's ability to pay its creditors.
Note 3: For the legal effect of the instrument, see section 36J.
 (3) A restructure instrument is not a legislative instrument.