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

Quizplus · Accepted Answer

Section 124 of the Corporations Act 2001 (Australia) provides companies with the legal capacity and powers of an individual, not restrictions on share placements. The 15% rule is related to ASX Listing Rule 7.1, not Section 124.

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