Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) The consideration for shares issued to the members of a company is to be –
(a) any money provided by Parliament for that purpose; or
(b) any interest in land transferred to the company under section 23; or
(c) any assets or rights vested in the company under clause 8 of Schedule 1; or
(d) any combination of the considerations specified in paragraphs (a), (b) and (c).
(2) Shares issued to the members of a company are held by the members in trust for the Crown.