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DUTIES ACT 2001 - SECT 504 Aggregate minimum value and unencumbered value of particular shares

DUTIES ACT 2001 - SECT 504

Aggregate minimum value and unencumbered value of particular shares

504 Aggregate minimum value and unencumbered value of particular shares

(1) Despite any other provision of this Act, the shares comprising all of the issued capital of a corporation or society are taken to have an aggregate minimum value of $800.
(2) The unencumbered value of each share is taken to be not less than the proportion of $800 that the share bears to the total issued share capital of the corporation or society.