AMA 3.54% 61.3¢ ama group limited

dividend not paid

  1. 56 Posts.
    CORPORATIONS ACT 2001 - SECT 254U
    Other provisions about paying dividends (replaceable rule--see section 135)

    (1) The directors may determine that a dividend is payable and fix:

    (a) the amount; and

    (b) the time for payment; and

    (c) the method of payment.

    The methods of payment may include the payment of cash, the issue of shares, the grant of options and the transfer of assets.

    (2) Interest is not payable on a dividend.
    -----------------------------------------


    CORPORATIONS ACT 2001 - SECT 254V
    When does the company incur a debt?

    (1) A company does not incur a debt merely by fixing the amount or time for payment of a dividend. The debt arises only when the time fixed for payment arrives and the decision to pay the dividend may be revoked at any time before then.

    (2) However, if the company has a constitution and it provides for the declaration of dividends, the company incurs a debt when the dividend is declared.
    -----------------------------------------------------
 
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