Document ID: chunk:federal_register_of_legislation:C2012C00862:clause:3_230ad
Version: federal_register_of_legislation:C2012C00862
Segment Type: clause
Provision Reference: sch 3 cl 230AD
Character Range: 102774–103920

230AD  Compliance with a recapitalisation direction

Giving members of the life company notice of share issue etc.
 (1) As soon as practicable after a life company issues shares, rights to acquire shares, or other capital instruments, in compliance with a recapitalisation direction, the company must give written notice to the persons who were members (under section 231 of the Corporations Act 2001) of the company just before the issue.
 (2) The notice must:
 (a) identify the issue; and
 (b) explain the effect of the issue of the shares, rights to acquire shares, or other capital instruments on the members' interests.

Issue of shares etc. despite other laws etc.
 (3) A life company may issue shares, rights to acquire shares, or other capital instruments, in compliance with a recapitalisation direction despite:
 (a) the Corporations Act 2001; and
 (b) the company's constitution; and
 (c) any contract or arrangement to which the company is a party; and
 (d) any listing rules (as defined in section 761A of the Corporations Act 2001) of a financial market (as defined in that section) in whose official list the company is included.