CORPORATIONS ACT 2001 - SECT 260DA Application of this Part to MCI mutual entities
CORPORATIONS ACT 2001 - SECT 260DA
Application of this Part to MCI mutual entities(1) For the purposes of applying this Part to an MCI mutual entity:
(a) a reference to a shareholder of the entity is taken to include a non - shareholder mutual member of the entity; and
(b) the reference to all ordinary shareholders in paragraph 260B(1)(b) is taken to be a reference to all members of the entity.
(2) To avoid doubt, this section does not have the effect of treating a non - shareholder mutual member's membership of an MCI mutual entity as a share.