Document ID: chunk:federal_register_of_legislation:C2024C00541:section:4:p4
Version: federal_register_of_legislation:C2024C00541
Segment Type: section
Provision Reference: s 4 (pt 4/4)
Character Range: 13552–14301

prohibits the division of the company's shares into classes; and
 (b) prohibits the issue or allotment of a share in the company, or a unit (as defined in section 9 of the Corporations Act 2001) of such a share, unless the share is an ordinary share; and
 (c) prohibits the issue or allotment of a share in the company, or a unit (as so defined) of such a share, if the rights attached to the share would be different from the rights attached to other shares in the company that are still on issue.
 (4) For the purposes of this Act, a person who subscribes for or buys shares is taken to hold the shares from the time of the subscription or purchase until the person no longer has in the shares an interest of any kind (whether legal or equitable).