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Constitution of Urabba Parks/Section 89
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= Redemption or repurchase of service membership = == Conditions of redemption or repurchase == (1) Service membership may only be redeemed or repurchased for consideration: :(a) in the order of the redemption queue, being: ::(i) by the time by which membership was registered on the queue, whether by application or on a certain time, and unless a time of day is registered membership is taken to be added to the queue at the end of the day so registered; and ::(ii) in the case of membership is registered or taken to be registered at the same time – by the share numbers on the membership; :(b) for the amounts paid up and any outstanding interest and charity distribution entitlements on the membership; :(c) only if any interest and accumulated charity entitlements on the membership may be paid out or disregarded; :(d) from amounts appropriated under law for the ordinary reduction of service membership; and :(e) in the case of redemption – from profits authorised under law for redemption (2) Upon redemption of service membership, the Consolidated Revenue Fund is appropriated to the necessary extent for amounts payable in respect of the redemption. (3) Membership may be liable to be redeemed for no consideration on terms as provided under law in effect either on original grant or with the consent of the member. == Method of redemption == (6) A body exercising corporate jurisdiction may redeem service membership upon application by the member or another person provided under law, but only if the associated redemption is lawful under any relevant law (including section 254K of the ''Corporations Act 2001'' of the Parliament of the Commonwealth). <small>Note: Urabba Parks may also repurchase service membership: see [[Constitution of Urabba Parks/Section 105#parab|paragraph 105(b)]].</small>
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