CORPORATIONS REGULATIONS 2001 - REG 12.8.09 Member shares--unclaimed property
CORPORATIONS REGULATIONS 2001 - REG 12.8.09
Member shares--unclaimed property(1) For clause 38 of Schedule 4 to the Act, section 1343 of the Act does not apply in relation to a member share of the body corporate.
(2) For clause 38 of Schedule 4 to the Act, the
constitution of the body corporate may provide that if a member share is
cancelled, and the value of the share is transferred, the value of the share
is to be treated as unclaimed moneys held by the body corporate.