Document ID: chunk:federal_register_of_legislation:C2025C00185:section:167ag
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 167AG
Character Range: 530937–531519

167AG  MCIs must be cancelled before MCI mutual entity demutualises
  A resolution of an MCI mutual entity that would result in the entity ceasing to be an MCI mutual entity can only take effect if:
 (a) there are no MCIs in the entity; or
 (b) the resolution provides for each MCI to be cancelled at or before the time the entity ceases to be an MCI mutual entity (whether or not the holders of the MCIs to be cancelled are to receive other securities in respect of those MCIs).

Division 3—Special procedure for amending constitution of mutual entity that proposes to issue MCIs