Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:301:p28
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 301 (pt 28/30)
Character Range: 1944989–1947621

regulation 12.2.04.

12.8.07  Disclosure in annual returns
  For clause 38 of Schedule 4 to the Act, item 8 in the table set out in section 348 of the Act does not apply in relation to a member of the body corporate holding only a member share, or member shares, in the body.

12.8.08  Member shares—numbering and certificates
  For clause 38 of Schedule 4 to the Act, sections 1070B and 1071H of the Act do not apply in relation to a member share of the body corporate.

12.8.09  Member shares—unclaimed property
 (1) For clause 38 of Schedule 4 to the Act, section 1343 of the Act does not apply in relation to a member share of the body corporate.
 (2) For clause 38 of Schedule 4 to the Act, the constitution of the body corporate may provide that if a member share is cancelled, and the value of the share is transferred, the value of the share is to be treated as unclaimed moneys held by the body corporate.

Division 3—Certain shares in transferring building societies and credit unions

12.8.10  Definitions for Division 3
  In this Division:
transferring building society means a transferring financial institution of a State or Territory mentioned in paragraph (a) of the definition of transferring financial institution of a State or Territory in clause 1 of Schedule 4 to the Act.
transferring credit union means a transferring financial institution of a State or Territory mentioned in paragraph (b) of the definition of transferring financial institution of a State or Territory in clause 1 of Schedule 4 to the Act.

12.8.11  Transferring building societies may issue shares equivalent to membership shares
 (1) A transferring building society that is a company limited by shares may issue a share in the company giving the holder of the share the same rights and obligations in relation to the share as the holder of a membership share in the building society that is taken to have been issued on the transfer date under clause 12 of the transfer provisions has in relation to that share.
 (2) However, the transferring building society must not issue the share if its constitution has been modified under paragraph 24(1)(c) of the transfer provisions.
 (3) The provisions of the Act that apply in relation to the issue of a share in a company limited by shares that is not issued under this regulation also apply to a share that is issued under this regulation for all matters that are not dealt with in subregulations (1) and (2).
 (4) This regulation does not affect:
 (a) the capacity of a transferring building society to issue shares in the company otherwise than under this regulation; or
 (b) a share issued