Document ID: chunk:federal_register_of_legislation:C2019A00037:clause:1_5
Version: federal_register_of_legislation:C2019A00037
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 3646–4694

5  Subclause 29(1) of Schedule 4
Omit:
 (1) If a modification of the constitution of an unlisted company registered under clause 3 of the transition provisions is proposed and the modification would have the effect of:
 (a) varying or cancelling the rights of members, or a class of members, to the reserves of the company; or
 (b) varying or cancelling the rights of members, or a class of members, to the assets of the company on a winding up; or
 (c) varying or cancelling the voting rights of members or a class of members; or
 (d) otherwise varying or cancelling rights so that Part 2F.2 (Class rights) applies; or
 (e) allowing 1 of those variations or cancellations of rights;
the following rules apply:
substitute:
 (1) If:
 (a) a modification of the constitution of an unlisted company registered under clause 3 of the transfer provisions is proposed; and
 (b) the unlisted company is a mutual entity; and
 (c) the modification would have the effect that the unlisted company would cease to be a mutual entity;
the following rules apply: