Mutual entities bill – step one post Hammond

Reducing the risk of losing mutual status when raising capital.

Treasury released an exposure draft of the Treasury Laws Amendment (Mutual Entities) Bill 2018 and explanatory materials (Bill) on 4 October, now open for public consultation.The Bill introduces a definition of a mutual entity and removes uncertainty in determining when a mutual entity triggers the demutualisation provisions in Part 5 of Schedule 4 of the Corporations Act 2001 (the Act).BackgroundMutual entities operate in most sectors of, and are significant contributors to, the Australian e...

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Authors: Anetta Johnston, David Jonavicius

Published Date: 18 October 2018