Document ID: chunk:federal_register_of_legislation:C2025C00185:section:254e
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 254E
Character Range: 869900–870504

254E  Court validation of issue
 (1) On application by a company, a shareholder, a creditor or any other person whose interests have been or may be affected, the Court may make an order validating, or confirming the terms of, a purported issue of shares if:
 (a) the issue is or may be invalid for any reason; or
 (b) the terms of the issue are inconsistent with or not authorised by:
 (i) this Act; or
 (ii) another law of a State or Territory; or
 (iii) the company's constitution (if any).
 (2) On lodgment of a copy of the order with ASIC, the order has effect from the time of the purported issue.