Section 124 of the Corporations Act places a restriction on the private placement of shares, limiting to 15% of existing capital the amount of capital that a company can issue in any one year without prior shareholder approval.

Question

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Section 124 of the Corporations Act does not specifically place a restriction on the private placement of shares or limit the amount of capital a company can issue in any one year without prior shareholder approval. Section 124 generally outlines the legal capacity and powers of a company, such as the ability to issue shares, but the specific rules regarding share issuance and the requirement for shareholder approval are detailed in other sections and regulations, such as the ASX Listing Rules for listed companies.

Section 124 of the Corporations Act Places a Restriction on the Private