Document ID: chunk:federal_register_of_legislation:C2025C00185:section:254h
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 254H
Character Range: 871736–872689

254H  Resolution to convert shares into larger or smaller number
 (1) A company may convert all or any of its shares into a larger or smaller number of shares by resolution passed at a general meeting.
Note 1: The variation of class rights provisions (sections 246B‑246G) may apply to the conversion.
Note 2: Section 1230C applies to a CCIV instead of this section.
 (2) The conversion takes effect on:
 (a) the day the resolution is passed; or
 (b) a later date specified in the resolution.
 (3) Any amount unpaid on shares being converted is to be divided equally among the replacement shares.
 (4) The company must lodge a copy of the resolution with ASIC within 1 month after it is passed.
 (5) An offence based on subsection (4) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.

Part 2H.2—Redemption of redeemable preference shares
Note: This Part does not apply to a CCIV: see section 1230D.