Document ID: chunk:federal_register_of_legislation:C2012C00862:clause:3_230ac
Version: federal_register_of_legislation:C2012C00862
Segment Type: clause
Provision Reference: sch 3 cl 230AC
Character Range: 102023–102774

230AC  Additional contents of a recapitalisation direction
 (1) A recapitalisation direction may direct a life company to issue:
 (a) shares, or rights to acquire shares, in the company; or
 (b) other capital instruments of a kind specified in the direction.
 (2) A direction for the purposes of paragraph (1)(a) may specify that the shares or rights must:
 (a) be of a kind specified in the direction; or
 (b) have the characteristics specified in the direction.
 (3) A direction for the purposes of paragraph (1)(b):
 (a) must not specify a kind of capital instrument unless that kind of capital instrument is specified in the regulations; and
 (b) may specify that the capital instruments must have the characteristics specified in the direction.